Celebrity Fashions informs about company updates

27 Aug 2019

In continuation to letter dated 22nd August, 2019 on sale of immovable property of the Company, Celebrity Fashions has informed that as stipulated in the restructuring package sanctioned by the Company’s Banker State Bank of India for the revival of the Company in November 2012, the Company has sought the approval of the shareholders vide Special resolution dated 14th February, 2017 for the sale of its immovable property at 107A, G.S.T Road, Chrompet, Chennai- 600044. Subsequently the sale has been concluded on 21st August, 2019 which is well within the stipulated time frame of March 2020 and the proceeds realized has been utilized towards settlement of term loans in full. The company has confirmed that as of today all commitments with respect to term loans have been honored in full and closed. 

The above information is a part of company’s filings submitted to BSE.

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