CDR Cell approves Samtel Color's financial restructuring

Samtel Color Ltd has announced that the Corporate Debt Restructuring (CDR) cell has approved the financial restructuring scheme of the Company vide its letter dated September 27, 2007 addressed to the lenders. The Scheme, which has a cut off date of January 01, 2007, envisages Inter - alia restructuring of principal, funding of interest, conversion of working capital irregularity into term loan, waiver of penal interest, infusion of funds by promoters, pooling of security etc.

The Scheme shall be given effect to in the books of account only after the Company receives the approval letters from the lenders.

The Stock closed the day at Rs.21.70, down by Rs.1.05 or 4.62%. The stock hit an intraday high of Rs.23.80 and low of Rs.21.65.

The total traded quantity was 68564 compared to 2 week average of 174470.

Source : Equity Bulls

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