Sakthi Sugars Ltd has informed that the company has made one-time settlement (OTS) on 29th June 2021 of the loan availed from Indian Overseas Bank at Rs28.90cr as against the amount outstanding of Rs50.16cr (Principal and Interest) as at 31st March 2021.
With this OTS the Bank has agreed to withdraw its application before National Company Law Tribunal.
At around 2:42 PM, Sakthi Sugars was trading at Rs18.40 apiece up by Rs0.87 or 4.96%.
Previously, the scrip was closed at Rs17.53 apiece on the BSE.