At the Board Meeting of Kesar Enterprises Ltd held today i.e. on 12.12.2019, the Board of Directors of the Company have accepted a Compromise Proposal [One Time Settlement], which has been approved by its one of the Banks i.e. Allahabad Bank by its letter dated 09.12.2019, subject to certain terms and conditions. The said Compromise proposal involves payment of Rs.55 crore to the Bank in installments.
Similarly, the Company also intends to settle with the other Bank i.e. UCO Bank, their outstanding loan amount, on the same terms and conditions as mentioned in the abovementioned OTS.
Shares of KESAR ENTERPRISES LTD. was last trading in BSE at Rs.36.1 as compared to the previous close of Rs. 32.85. The total number of shares traded during the day was 6894 in over 43 trades.
The stock hit an intraday high of Rs. 36.1 and intraday low of 31.75. The net turnover during the day was Rs. 240499.