MIC Electronics in association with LG Innotek is going to launch MIC-LG branded LED lighting products to penetrate into Consumer LED lighting market, in the 3rd quarter of financial year 2016-17.
The company and State Bank of India (SBI) have mutually agreed for a one time settlement of working capital loan as per the settlement letter dated August 03, 2016. The bank has agreed to waive the total outstanding interest of Rs 22.46 crore. As a result, the total outstanding due of the company towards this loan has reduced to Rs 57.43 crore.
MIC Electronics is a global leader in the design, development & manufacturing of LED Video Displays and Lighting Products.
