Parenteral Drugs India Limited pays part of OTS amount to lenders

Pursuant to the One Time Settlement (OTS) proposal given by Parenteral Drugs India Limited and accepted by the Consortium of Banks, Parenteral Drugs India Limited has paid a sum of Rs.65,00,00,000/- to the Consortium of Banks as against total sanction OTS amount of Rs. 154,00,00,000/-, by monetizing some of the idle assets of the Company as well as money arranged by the guarantors of the Company.

The core assets of the Company are being used to continue with the production to the extent it is possible and further to raise balance funds to settle the remaining amount of the required funds to settle the entire OTS amount.

Source : Equity Bulls

Keywords

ParenteralDrugsIndia OTS Debt