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Garg Furnace completes OTS with Indian Bank

06 Jan 2020 Evaluate

Garg Furnace has completed One-time settlement (OTS) with Indian Bank of an agreed amount of Rs 45 crore as per terms of OTS agreement. And as on date there are no dues to the bank from the company in this regard.

Earlier, the company had made OTS in Rs 45 crore, with Indian Bank on June 30, 2018 for its financial liabilities of Rs 105.81 crore towards bank.

Garg Furnace is one of the northern India's leading alloy and non-alloy steel manufacturer.

Peers
Company Name CMP
JSW Steel 1345.00
Tata Steel 184.90
Steel Authority 169.80
Jindal Stainless 691.05
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