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Alps Industries enters into settlement, general release agreement with RBS

28 Apr 2016 Evaluate

Alps Industries has entered into a settlement and general release agreement with Royal Bank of Scotland (RBS) on April 25, 2016 for settlement of all disputed claims of ABN Amro Bank NV (Presently known as Royal Bank of Scotland) against certain disputed derivative transactions entered into with ABN Amro Bank NV which has been shown by company as contingent liability estimated at approximately Rs 308 crore as on June 2010.

Alps Industries is pioneer in developing & promoting eco friendly & sustainable textiles, since last few decades, including products made out of Vegetable dyed fabrics, Organic Cotton and Recycled cotton fabrics.


Peers
Company Name CMP
Vardhman Textiles 521.30
Welspun Living 255.90
Arvind 500.00
Raymond Lifestyle 550.25
K.P.R. Mill 1149.00
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