Companies

Eveready Industries initiates proceedings to recover ICDs, dues

Our Bureau Kolkata | Updated on March 30, 2021

Eveready Industries has initiated proceedings before the Calcutta High Court for recovery of Inter Corporate Deposits (ICDs) and other dues from Seajuli Developers and Finance Ltd (Seajuli) and Babcock Borsig Ltd.

Babcock Borsig is named as one of the promoter companies of Eveready with a 0.01 per cent holding for the quarter ending December 31, 2020.

According to a stock market notification, the principal outstanding from Seajuli Developers is about ₹270.80 crore, apart from accrued interest. Dues from Babcock Borsig is about ₹76 crore.

The proceedings are also for recovery of dues from Seajuli with respect to capital advance for transfer of leasehold rights of a property. The outstanding amounts to ₹72 crore, along with interest.

Proceedings were initiated on March 26.

“This has no impact on the company’s operations or day-to-day business,” Eveready said in a stock market notification.

Published on March 30, 2021

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