BENARA BEARINGS AND PISTONS LTD - Announcement under Regulation 30 (LODR)-Press Release / Media Release

Benara Bearings and Pistons Ltd - Announcement under Regulation 30 (LODR)-Press Release / Media Release

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29 Mar 2023
Dear Sir/Madam, Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions, if any, we would like to inform that in the line with company discussion with Axis Bank limited and Bandhan Bank for settlement of outstanding dues for Rs. 30.00 crore of NPA loan account, it has entered into a one- time settlement (OTS) of loan account with the aforesaid bank as per the terms and conditions of the said Bank. Reason for settlement: Reduction of Outstanding Debt Facility Brief Summary of the OTS:- Under OTS Scheme , the Company paid Rs. 30.00 Crore against entire outstanding of Rs. 57.58 Crores. The settlement was carried out as per mutual discussions between the Company and the Bank to provide long term sustainability to the Company's operations.
View all announcements for Benara Bearings and Pistons Ltd	Source: BSE India

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