For repayment outstanding loan under ECB and FCCB
Electrotherm (India) has entered into settlement agreement with International Finance Corporation for repayment of ECB for settlement amount of USD 3.512 Million (approx. 27%) against principal outstanding amount of USD 13 Million and for repayment of FCCB for settlement amount of USD 2.696 Million (approx. 27%) against principal outstanding amount of USD 10 Million payable in six instalments upto 30 September, 2019.The principal outstanding amount of ECB and FCCB as on June 2011 as per the books of account of the Company is Rs. 157.76 crore.
As per the settlement, on repayment of the entire settlement amount, IFC shall release the charge on the assets of the Company and issue no due certificate.
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