Plan to pay debts as one-time settlement with banks: Bartronics

Bartronics management has unanimously agreed to make good efforts to settle their dues and will initiate discussions with identified investor to clear dues.

Talking about the above decision, K Udai Sagar, Managing Director, Bartronics said the company management has decided to address old issues of settling all the dues as one-time settlement with bankers without affecting the operations. He said the company had secured term loans, working capital loans and the

The working capital loans are around Rs 250 crore, he said.

Currently, discussions with bankers are underway and taking shape, said Sagar. However, he said it would be difficult to give the entire amount of settlement as it depends on what the banks will agree. The proposal is under consideration with various banks.Bartronics is a leading IT services & business solution provider delivering cutting edge technology solutions to enterprises across the world. The company has a global foot print having presence in 6 countries.