Himalaya Food International Ltd - Investor Update On One Time Settlement Of Debt
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| 04 Feb 2021 | |
| Union Bank of India has conveyed the sanction of One Time Settlement of Company's outstanding debt vide its letter dated 3rd Feb 2021. Company has to pay the settled amount in 15 months. Banks will allow the company to sell the Non-Core Assets including the land parcels in Rajasthan & Paonta Sahib to facilitate the payment of the OTS amount. <BR> The other three banks in the consortium had earlier sanctioned the OTS. The total OTS amount of all the four banks now stands for Rs. 82.80 Crores. Company has made payment of Rs. 14.80 Crores till January 2021. The balance amount of Rs. 68 Cr is proposed to be paid by way of sale of Non-Core Assets and Internal Cash accruals. In view of Covid 19 Pandemic other three banks have agreed to consider Company's request for extension of period in line with Union Bank of India.<BR> | |
| View all announcements for Himalaya Food International Ltd | Source: BSE India |
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