Shah Alloys has entered into settlement agreement with Assets Reconstruction Company India (ARCIL). Karur Vysya Bank and IDBI Bank have assigned their entire outstanding debts of Shah Alloys to the ARCIL. Subsequently, the company has entered into settlement agreement with ARCIL in respect of credit facilities availed by the company and the settled amount to be paid up to December 31, 2020 and March 31, 2022 respectively.
Shah Alloys is engaged in the manufacturing of stainless steel. The company also has a minor operation in the form of a medical store.
