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Mawana Sugars: Outcome of board meeting

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, please be informed that the Board of Directors of the Company, vide resolution dated March 21, 2017, has agreed to enter into one time settlement with Punjab National Bank (PNB) Muzaffarnagar, Uttar Pradesh.

March 22, 2017 / 09:20 AM IST
 
 
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Dear Sir/Madam, Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, please be informed that the Board of Directors of the Company, vide resolution dated March 21, 2017, has agreed to enter into one time settlement with Punjab National Bank (PNB) Muzaffarnagar, Uttar Pradesh. Purpose of the OTS: Resolution of NPA debt. Summary Details of the OTS: Settling Company's total memoranda dues of Rs. 109.46 Crores (as per PNB), for a consolidated agreed amount of Rs. 79.79 Crores, payable over 15 month without interest. This is for your information and record please.Source : BSE

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