Vardhman Polytex Ltd enters into OTS with Jammu and Kashmir Bank

Vardhman Polytex Ltd has entered into One Time Settlement (OTS) with Jammu and Kashmir Bank (One of the Consortium Member Bank) in respect of credit facilities availed by company. The company has accepted OTS proposal and committed to act as per terms of proposal.

Jammu and Kashmir Bank has approved OTS as a resolution of NPA account of the company. Accordingly, Company has to pay the One Time Settlement (OTS) amount by or before 31st of December, 2022. As per terms, on receipt of full OTS payment the bank will withdraw OA filed in the account, NCLT application will be withdrawn on acceptance of OTS with liberty to file afresh in case the company default the package sanctioned.

Shares of Vardhman Polytex Limited was last trading in BSE at Rs. 22.15 as compared to the previous close of Rs. 22.30. The total number of shares traded during the day was 6789 in over 55 trades.

The stock hit an intraday high of Rs. 22.90 and intraday low of 21.65. The net turnover during the day was Rs. 150503.00.

Source : Equity Bulls

Keywords

VardhmanPolytex INE835A01011 OTS JammuandKashmirBank