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Vikas WSP informs about corporate announcement

04 Jan 2020 Evaluate

Vikas WSP has informed that the company has been availing credit facilities in a consortium of banks i.e. Punjab National Bank (NPA Amount Rs 24.84 Crore), Union Bank of India (NPA Amount Rs 46.57 Crore) and Bank of India (NPA Amount Rs 49.71 Crore); and company has paid a sum of Rs 19.76 Crore on 31st December, 2019 to Punjab National Bank leaving behind an unpaid amount of Rs 5.09 Crore only and the company has informed PNB that the pending amount to the tune of Rs 5.09 Crore along with accrued interest whatsoever, would be paid by 31.03.2020. Similarly, the company has submitted its proposals for acceptance of one time settlement (OTS) to Union Bank of India and Bank of India and asked them to furnish their terms for payment of the entire NPA dues; and once these NPA dues are paid, the company would be debt free as said earlier.

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










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