Kamat Hotels (India) has received an approval from Central Bank of India (CBI) approving the One Time Settlement (OTS) proposal. The company has been facing cash flow mismatch due to which the debt has become a Non- Performing Asset (NPA). As per the approved OTS Scheme, the company is expected to repay the debt in a structured manner over a period of twelve months.
Kamat Hotels (India) is engaged in the business of hospitality and allied businesses. The company principally operates hotels and restaurants.
