A2Z Infra enters into definitive settlement agreement with SICOM

23 Oct 2017

A2Z Infra Engineering and SICOM have entered into a definitive settlement agreement on October 18, 2017. The One Time Settlement (OTS) amounting to Rs 42.50 crore was done against a Cash Payment of Rs 17.50 crore and Issuance of Shares worth Rs 25.00 crore.

Earlier, the Board of Directors of the company in its meeting duly held on September 21, 2017 has approved the One Time Settlement (OTS) with SICOM for an amount of Rs 42.50 crore towards total outstanding of Rs 115.39 crore (as per SICOM).

A2Z Infra Engineering (previously known as A2Z Maintenance & Engineering Services) is primarily engaged in providing Engineering, Procurement and Construction (EPC) services in power transmission and distribution sector with focus on distribution.

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