Prakash Industries has received an approval for outstanding payment to FCCB holders. The company’s board of directors has passed resolution on December 18, 2017 for approval of payment in respect of outstanding obligations of the company on $17.85 million cash consideration due on 5.25 percent April, 2015 FCCBs as per agreed terms with FCCB holder. The payment will be made by the company on or before March 31, 2018.
Prakash Industries is the largest manufacturer of PVC pipes and fitting in North India. It is a brand that consumers have trusted since last 37 years.
