A2Z Infra Engineering has received the Letter of Acceptance (LoA) from Edelweiss ARC, to settle its all outstanding liabilities (including interest) as on cut-off date February 28, 2019 through full cash One Time Settlement (OTS).
With this settlement the debt of the Company shall stand reduced by Rs 177.69 crore. The deferred OTS Consideration of Rs 41.00 crore and this amount are being repaid by the Company in a progressive manner up to March 25, 2021. The Board of Directors of the Company at its meeting held on March 15, 2019 has approved the same.
A2Z Infra Engineering (previously known as A2Z Maintenance & Engineering Services) is primarily engaged in providing Engineering, Procurement and Construction (EPC) services in power transmission and distribution sector with focus on distribution.