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Lyka Labs Ltd. Capital/Financing Update 2019
62602_rns_2019-04-22_f0654ade-f7a2-4aa0-bb30-f8fd36c06d43.PDF
Capital/Financing Update
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Lafis Linntei
Corporate Office : Ground floor, Spencer Building, 30, Forjett Street, Grant Road (West), Mumbai - 400 ' Phone :6611 2200. Fax : 6611 2249 Website : wwrv.lykalabs.com . Email : [email protected]
Date lLth April, 2019
To, National Stock Exchange of India Ltd Exchange Plaza, 5th Floor Plot No. C/1, G. Block Bandra Kurla Complex Bandra (East), Mumbai -400 051
Script Code: TYKALABS
Subject:
Dear Sir/ Madam,
With reference to your email dated 9th April, 2019 on the captioned subject asking us to provide clarification on our announcement dated 30th March, 2019, we would like to reply point wise as under:
1. Brief Summarv of OTS
The Company has entered into One Time Settlement with the Bank and arranged to make upfront payment of Rs. 11.00 Crores as settlement amount and Rs. 6.49 lakh (including GST of Rs. 0.99 lakh) as processing fees to the Bank pursuant to which the Bank has released its mortgage charge on the immovable property of the Company situated at Gala No. 1O1to 108 and 150 to 154, Shiv Shakti Industrial Estate, M V Road, Marol, Andheri (East), Mumbai 400059 and is also in the process of partly releasing the pledged shares held by the Promoters of the Company.
Further, an amount of Rs. 33 lakhs being the interest for delayed period along with revalidation fees amounting to Rs. 2.75 lakhs + GST is payable to the Bank by 3Oth April 2019 and on payment of said amount the Bank will release the pending pledged shares held by the Promoters of the Company.
2. Reason for Optine for OTS
The Company's account was classified as Non-Performing Asset by the Bank with effect from L't May, 2016.
Hope you will find the-5bove -+-in orOe.
Thanking you, Yours faithfully For Lyka Labs Li
Company Secretary and Compliance Officer