Intec Capital Limited announces OTS of borrowings with Consortium of lenders led by Bank of India

Intec Capital Limited has announced that the Consortium of lenders led by Bank of India ("Bank"), has sanctioned the proposal of One Time Settlement (OTS) towards total outstanding dues of Rs. 75.70 Crores to be paid in installments by 30th June 2025.

Due to liquidity issues, the Company was unable to make the regular payments against its credit facilities obtained from the consortium of lenders led by Bank of India. Resultantly, heavy interest and penalties were imposed on the Company.

In order to avoid any delays, apprehensions, concerns, and risks inherent, the lenders have agreed to settle the Dues. Intention of Parties is also to eliminate any future disputes and secure mutual discharge and complete release from any obligation or liability of whatsoever nature on the part of either party.

Shares of INTEC CAPITAL LTD. was last trading in BSE at Rs. 14.47 as compared to the previous close of Rs. 14.19. The total number of shares traded during the day was 1793 in over 22 trades.

The stock hit an intraday high of Rs. 14.48 and intraday low of 14.00. The net turnover during the day was Rs. 25459.00.

Source : Equity Bulls

Keywords

INTECCAPITAL INE017E01018 OTS