Stocks

Tilaknagar Industries board agrees to SBI's settlement terms

| Updated on November 27, 2019 Published on November 28, 2019

The board of directors of Tilaknagar Industries on Wednesday granted its consent for agreeing to the compromise settlement terms proposed by State Bank of India (on November 14) accepting the one-time settlement offer of the company. Tilaknagar has opted for OTS as the company’s accounts have been classified as NPA by the bank. According to the proposal, the company will settle the dues to the bank by paying ₹102 crore (OTS amount) towards full and final settlement of the total dues of ₹287.18 crore payable to the bank as per the company’s records. The stock on Wednesday closed 19.86 per cent higher at ₹17.14 on the BSE.

Published on November 28, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.