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Shiv-Vani Oil to repay $17.6 million loan to ICICI Bank

01 Jul 2015 Evaluate

Shiv-Vani Oil & Gas Exploration Services will repay its loan of $17.6 million to ICICI Bank with the sale of its assets. The Debt Recovery Tribunal has directed sale of four rigs and one directional drilling equipment of the company by order dated April 22, 2015. The said rigs were exclusively hypothecated with ICICI Bank and the concerned loan will stand repaid to the bank with the sale of said assets.

Shiv-Vani Oil & Gas Exploration Services offers a wide spectrum of services in the field of oil and natural gas exploration and production. From shot hole drilling and seismic surveying through to directional drilling, well development, downhole operations, engineering and logistics -they specialize in every area of onshore and offshore operations, as well as in natural gas compression & allied services.


Peers
Company Name CMP
ONGC 222.70
Oil India 442.15
Jindal Drilling&Inds 586.50
Deep Industries 748.55
Asian Energy Service 465.75
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