The Exchange had sought clarification from Hindustan Organic Chemicals with respect to news article appearing in The Economic Times on September 11, 2015 titled ‘Hindustan Organic Bonds Downgraded to Junk’. Hindustan Organic Chemicals replied stating that on 10-09-2015, the respective payments of Annual Interest payments were already made to the Bond holders of HOCL Bonds u/Sr. XX, by transferring on 10-9-2015 their respective amounts of Annual Interest to their respective Bank Accounts and the same facts were already informed to the Rating Agency, CARE, and CARE will be revisiting the same and doing the needful updations thereof according to their review criteria &policies thereof. Further, you may also kindly note that, having paid off the Annual Interest on HOCL Bonds Sr.XX, on 10-09-2015, they have already approached the HOCL Bonds Trustees, viz. SBI CAP Trustee Co. Ltd. to withdraw their Guarantee Invocation letter dated 20-08-2015 issued to the GOI in this context.
The above information is a part of company’s filings submitted to BSE.
