Yashraj Containeurs opens new plant at Chennai

Yashraj Containeurs Ltd has announced that the Board of Directors of the Company at its meeting held on November 30, 2006 has considered and decided the following matters:

The Company’s negotiations with IDBI Ltd (SASF) have been successful. The original liability to SASF with interest on account of term loan and Debentures (NCD’s) amounted to Rs 26.42 crores, however, the One Time Settlement figure was pegged at Rs 13.25 crores, hence there is a saving to the Company of Rs 13.17 crores.

The Company has already paid upfront money as required by SASF to the extent of Rs 1.10 crores and the monthly repayment installment of Rs 33.00 lacs. has already been paid for the month of November 2006.

The Board recommended payment of dividend at 15%, subject to BIFR clearance.

The Company had opened a new manufacturing pocket at Chennai, Tamil Nadu and it has commenced commercial production with effect from November 01, 2006. There is no reporting of teething trouble or hiccups in the production.

Source : Equity Bulls

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