Kamat Hotels India Ltd receives approval from Corporation Bank for OTS

Kamat Hotels India Ltd has received an approval from Corporation Bank approving the One Time Settlement proposal (OTS).

Reason for opting for One Time Settlement: The Reason for opting OTS is that the company has been facing cash flow mismatch due to which the debt has become a Non-Performing Asset.

Brief Summary of the One Time Settlement: As per the approved OTS Scheme, the company is expected to repay the debt in a structured manner over a period of six months.

Shares of KAMAT HOTELS (INDIA) LTD. was last trading in BSE at Rs.33.4 as compared to the previous close of Rs. 33.2. The total number of shares traded during the day was 6406 in over 74 trades.

The stock hit an intraday high of Rs. 34.5 and intraday low of 33.4. The net turnover during the day was Rs. 217950.

Source : Equity Bulls

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