Allied Digital Services LLC gets waiver for USD 3,219,918 business loan

Allied Digital Services LLC (a subsidiary of the Company) has been granted waiver for an amount of USD 3,219,918 received as business loan under Paycheck Protection Program from the United States Federal Government.

Last year in the wake of Covid-19 pandemic, the US Federal Government had provided support to business community by providing loan through Paycheck Protection Program (PPP). Allied Digital Services LLC, had also obtained a benefit under this scheme for USD 3,219,918 in May 2020. The said loan amount was eligible for waiver on fulfilment of certain conditions. Accordingly, Allied Digital Services LLC, had applied for the said waiver by making an application to Small Business Administration (SBA), United States government agency for review and approval. Based on the loan waiver approval received from SBA, Allied Digital Services LLC, is no longer required to repay the business loan of USD 3,219,918 received under Paycheck Protection Program from the United States Federal Government.

Shares of ALLIED DIGITAL SERVICES LTD. was last trading in BSE at Rs. 64.8 as compared to the previous close of Rs. 68.05. The total number of shares traded during the day was 54736 in over 724 trades.

The stock hit an intraday high of Rs. 68.6 and intraday low of 64.7. The net turnover during the day was Rs. 3584509.

Source : Equity Bulls

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