Geodesic to pay USD 171mn to Citibank NA

Geodesic Ltd has informed BSE that the London Court has given a Summary Judgment in the case filed by the Bondholders through their Trustees, Citibank N.A., London (Citibank). According to the Judgment, The Company has to1. Pay to Citibank a sum of US$ 157,064,2512. US$ 14,881,837.78 in respect of unpaid default interest upto and including February 07, 2014 and3. US$ 39,266.06 per day of default interest from February 08, 2014 to the date of payment.It is also ordered that the Company would also have to pay the cost of the proceedings i.e. £ 1,22,500 excluding of VAT.Source : BSERead all announcements in Geodesic