Sparc Systems has entered into one time settlement (OTS] of term loan with the Maharashtra State Financial Corporation [MSFC). The company’s board of directors in a meeting held on December 27, 2010 had approved the same. In the same meeting held the company was authorized to file necessary papers, documents, application and do all necessary acts in this regard.
Sparc Systems reported net loss of Rs 0.03 crore in the year ended March 2010. There were no net profit or loss during the previous year ended March 2009. Sales reported to Rs. 0.11 crore in the year ended March 2010 and during the previous year ended March 2009.
The company's line of business encompasses Software and Hardware Solutions for Office Automation, Electronic Security Systems, Embedded and Internet Appliances.
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