SAKTHI SUGARS LTD. - Updates

Sakthi Sugars Ltd has informed BSE that the Company is in active discussion with Bondholders having majority of FCCB (Series B) for a possible compromise for settlement through redemption, without involving any conversion of bonds into equity, and hope to reach a consensus and documentary closure shortly. This would mean that there would be no need for a scheme to be considered. In the circumstance and owing to this ongoing exercise, the Company is in the process of moving the Honourable High Court of Judicature at Madras for appropriate directions and in the circumstances no meeting of the Equity shareholders or the bondholders has been held.