SBI to initiate forensic audit on Vivimed Labs Ltd for loan restructuring

Vivimed Labs Limited has credit arrangements with State Bank of India (SBI) / Indian Bank / Bank of bahrain and Kuwait. of which SBI dues have not serviced on time because of constraints owing to non-performance of business due to COVID and the account slipped into NPA.

Since then the Company has submitted proposal for restructuring / settlement.

As it is mandatory to conduct forensic audit, SBI has initiated the same prior to considering restructuring / settlement proposal.

Vivimed Labs Ltd, a global company with strong internal controls and an effective audit system, is compliant with all applicable laws and regulations, across jurisdictions.

Shares of Vivimed Labs Limited was last trading in BSE at Rs. 15.75 as compared to the previous close of Rs. 16.20. The total number of shares traded during the day was 115593 in over 749 trades.

The stock hit an intraday high of Rs. 16.95 and intraday low of 14.70. The net turnover during the day was Rs. 1857385.00.

Source : Equity Bulls

Keywords

VivimedLabs INE526G01021 DebtRestructuring Settlement SBI ForensicAudit