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Kamat Hotels receives approval from Canara Bank for OTS proposal

29 Aug 2017 Evaluate

Kamat Hotels (India) has received an approval from Canara Bank 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 entire repayment under OTS is to be completed in two installments which shall be paid latest by first week of October, 2017.

Kamat Hotels (India) is engaged in the business of hospitality and allied businesses. The company principally operates hotels and restaurants.



Peers
Company Name CMP
The Indian Hotels Co 834.00
ITC Hotels 171.00
Mahindra Holi.&Resor 186.55
EIH 293.75
Chalet Hotels 811.35
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