Royal Cushion Vinyl Products Ltd announces full and final settlement of dues under the loan accounts

The company has announced with respect to the full and final settlement of dues in respect of the loan accounts of Royal Cushion Vinyl Products Limited ("Company") with Finquest Financial Solutions Private Limited ("FFSPL"), a non-banking financial company. Pursuant to time to time deliberations and negotiations with FFSPL, the Company has finally negotiated with FFSPL to make a full and final payment of INR 8.60 Crores ("Settlement Amount") towards settlement of all outstanding dues and accordingly, completed the full payment of the entire Settlement Amount during July 2023. Pursuant thereto, the Company has received the No Dues Certificate dated July 14, 2023 from FFSPL confirming no outstanding dues in the loan accounts of the Company with FFSPL. Accordingly, the said loan accounts stand settled in the books of the Company and the balance outstanding amount shall be written back in the books of the Company. Further, the Company will initiate necessary actions to release all the security interests under the said loan accounts.

Shares of ROYAL CUSHION VINYL PRODUCTS LTD. was last trading in BSE at Rs. 9.60 as compared to the previous close of Rs. 9.15. The total number of shares traded during the day was 266 in over 8 trades.

The stock hit an intraday high of Rs. 9.60 and intraday low of 8.70. The net turnover during the day was Rs. 2367.00.

Source : Equity Bulls

Keywords

ROYALCUSHIONVINYLPRODUCTS INE618A01011 FinalSettlement DebtRepayment FinquestFinancialSolutions