Prozone Intu Properties Limited - Intimation U/R 30 Of SEBI LODR Regulations 2015- Update On Impact Of COVID-19
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| 12 Feb 2021 | |
| Please be informed that Empire Mall Private Limited (Empire), Alliance Mall Developers Co. Private Limited (Alliance), Hagwood Commercial Developers Limited (Hagwood) are subsidiaries of the Company (collectively referred to as 'Project Subsidiary Companies') which have availed certain financial facilities from Banks/ financial institutions. <BR> <BR> In view of disruption of business operations caused by COVID-19 pandemic and consequent impact on financial performance, said 'Project Subsidiary Companies' have applied for One-time Resolution' (OTR) of loans to their respective Bankers/ Financial Institutions. The OTR applications have been invoked by the banks/ NBFCs in the month of December 2020 and proposals are under process for implementing resolution plans as per 'Guidelines on Resolution Framework for COVID-19 related stress prescribed by the RBI Circulars dated 6th August 2020 and 7th September 2020. <BR> <BR> The Company is confident of obtaining resolutions through OTR. <BR> | |
| View all announcements for Prozone Intu Properties Limited | Source: BSE India |
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