Shriram City Union Finance (SCUF) has given loans to the SVL Group in various tranches amounting to Rs 400 crore. The loans fall due for maturity in various tranches over the next 2 years up to September 2020. SVL, its Promoters / Promoter Group, and its associates, have enough assets / resources to repay the loans.
The Promoters of SCUF are also addressing the above with SVL Group to get the settlement of the dues, failing which, the Promoters / Promoter Group of the company will address through alternate mechanisms to settle the dues.
Shriram City Union Finance is engaged in non-banking financial services. The Company provides long-term home loans. It also offers a range of options for financing the purchase of two wheeler vehicles across manufacturers and brands.
