Kesar Enterprises has accepted a Compromise Proposal of One Time Settlement (OTS), which has been approved by its one of the Banks i.e. Allahabad Bank. The said Compromise proposal involves payment of Rs 55 crore to the Bank in installments. The Board of Directors of the Company at its meeting held on December 12, 2019 has accepted the same.
Similarly, the Company also intends to settle with the other Bank i.e. UCO Bank, their outstanding loan amount, on the same terms and conditions as mentioned in the abovementioned OTS.
Kesar Enterprises (KEL) is an India-based company, engaged in the manufacture, marketing and sale of variety of products.
