SAL Steel has entered into One Time Settlement (OTS) with Invent Assets Securitization and Reconstruction (INVENT) in respect of entire credit facilities availed by the company and the settled amount is to be paid up to March 15, 2023.
This step has been taken pursuant to Union Bank of India (UBI), State Bank of India (SBI) and State Bank of Hyderabad (SBH), Lender Banks of the company assigning their entire outstanding debts to INVENT.
SAL Steel is an India-based company, which is engaged in manufacturing sponge iron, ferro alloys, mild steel (MS) and stainless steel (SS) angle, and power.