With reference to the defaulter''s name appearing in the leading newspaper regarding FCCB repayments, GV Films Ltd has clarified to BSE that the Company GV Filing has only one FCCB issue outstanding USD 3.4 million as on date out of the total issue of 4.5 million USD. Due to the Company’s present financial difficulties the Company have taken it up with the lender and they have agreed for the restructuring of the repayment giving the Company more time for repayment of the entire loan and accept payments in parts. Already the Company is in the process of remitting 500,000 USD towards repayment and in the next 24 months the Company is sure the entire FCCB will be repaid. The Company is waiting for the statutory approvals for the same.
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