Punjab Chemicals & Crop Protection has fulfilled all the conditions of the One Time Settlement (OTS) approval received from Central Bank of India against the credit facilities availed by the company. As per the terms of OTS, the company was to pay Rs 16.03 crore against the total outstanding dues of Rs 19.71 crore including interest and FITL principal amount.
Accordingly, the company has repaid the entire amount under OTS proposal as per the stipulation contained therein and no further dues are payable to the bank.
Punjab Chemicals & Crop Protection is engaged in manufacturing of agrochemicals, pharmaceutical intermediates, APIs, phosphorous derivatives and specialty chemicals.
