Sundaram Multi Pap has pledged 100% equity share capital of its wholly owned subsidiary ‘E-class Education System’ with SBICAP Trustee Company on behalf of SBI and IDBI. The total equity share capital of the said subsidiary is Rs 15 crore.
The company has taken this step as per the requirement of terms and conditions of the loan restructuring done with State Bank of India (SBI) and IDBI Bank (IDBI).
Sundaram Multi Pap (SMPL) is engaged in the manufacture of notebooks, account books, other paper stationery products, Kraft paper and trading of office paper stationery. Its operating facilities are located at Palghar, Nagpur and Kandla (SEZ facility). It sells its products in local as well as exports market.
