Nova Iron and Steel settles dispute on outstanding loan

Nova Iron and Steel Ltd has settled the dispute for repayment of outstanding loan with M/s Evergrowing Iron & Finvest Pvt. Ltd, of Rs.32,12,87,630/- plus Interest and with M/s Flawless Holdings & Industries Pvt. Ltd. of Rs.40,05,76,989/- plus Interest by entering into an Agreement dated 27/06/2022 for repayment of outstanding Loan and registration of Charge as per the terms of the Arbitration Award dated 19/05/2022.

Shares of NOVA IRON & STEEL LTD. was last trading in BSE at Rs. 7.50 as compared to the previous close of Rs. 7.89. The total number of shares traded during the day was 56 in over 3 trades.

The stock hit an intraday high of Rs. 7.50 and intraday low of 7.50. The net turnover during the day was Rs. 420.00.

Source : Equity Bulls

Keywords

NOVAIRONandSTEEL INE608C01026 DisputeSettlement Loan ArbitrationAward