Shah Alloys has entered into an agreement with Edelweiss Asset Reconstruction Company (EARCL) for full & final settlement of entire consolidated dues of all three banks for Rs 50.00 crore to be paid in installments up to February 15, 2022.
The three lenders - Bank of Baroda, Oriental Bank of Commerce and Axis Bank had assigned all the rights, title and interests in financial assistances granted by them to Shah Alloys in favour of EARCL.
Shah Alloys is engaged in manufacturing of a range of stainless steel; alloy and special steel; carbon/mild steel, and armor steel in flat and long products.
