Stocks

OTS may sweeten Sakthi Sugars stock

| Updated on September 20, 2019 Published on September 21, 2019

 

Sakthi Sugars has entered into a deal with Bank of India for a one-time settlement (OTS). Accordingly, against the outstanding amount of ₹233.78 crore as at March 31, 2019, the company has settled to pay ₹150.43 crore on or before March 30, 2020 as OTS. The down payment of ₹15.04 crore (10 per cent) has been adjusted against the payment already made by the company. The company will be charged simple interest at 10.45 per cent from July 17 on reducing balance basis.

Published on September 21, 2019
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