Tarmat has received One Time Settlement (OTS) proposal from Vijaya Bank against the credit facilities availed by the company. As per terms of the OTS, the company is required to pay an aggregate amount of Rs 62.11 crore as full and final settlement.
The company has accepted the OTS proposal and committed to act as per the proposal offered by Vijaya Bank. This OTS proposal will resolve the total amount owed to Vijaya Bank.
Tarmat is an infrastructure construction company engaged in the business of construction of highways and runways.
