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HYDERABAD: Techtran Polylenses Ltd has informed the stock exchanges that Industrial Development Bank of India (IDBI) has sanctioned a debt restructuring in favour of the company whereby IDBI would receive Rs 4.1 crore from the company without any prepayment premium. Currently, the loan carries 15 per cent interest.

According to the company, IDBI has also agreed to reduce the interest rate on the remaining outstanding loan to 11 per cent from the existing 15 per cent with the cut-off date fixed as September 1, on payment of 50 per cent differential interest on discounted basis. All other terms and conditions remain unchanged, the company said. &

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