Comments
Housing Development and Infrastructure has offered to settle its outstanding dues with Jammu and Kashmir Bank by May 2 after the lender filed an insolvency plea against the company before the National Company Law Tribunal. According to a Cogencis report, in January, the company had offered a one-time settlement to the bank and had agreed to pay ₹280 crore by March 31, the lender’s lawyer told the tribunal. However, the settlement talks did not fructify, he said. HDIL’s total outstanding dues to J&K Bank could not be ascertained. Reacting to the news, shares of HDIL recovered 4 per cent from a low of ₹40.55 to close at ₹41.65, up 0.6 per cent over the previous day’s close. Shares of J&K Bank slipped 1.41 per cent at ₹59.25 on the NSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.