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Mindteck (India) Ltd — Regulatory Filings 2021
Jun 25, 2021
60261_rns_2021-06-25_162b4a9f-f32a-460d-a086-dd2cff4c55ec.pdf
Regulatory Filings
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Mindteck (India) Limited
(CIN: L30007KA1991PLC039702) AMR Tech Park, Block 1, 3rd Floor #664, 23/24, Hosur Road, Bommanahalli Bengaluru - 560068. India
Tel: +91 80 4154 8000/4154 8300 Fax: +91 80 4112 5813
Ref: MT/SSA/2021-22/13 June 25, 2021
Scrip Code: ‘517344’ Symbol: “Mindteck”
To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street Bandra Kurla Complex, Mumbai- 400001 Bandra (E) Mumbai – 400 051
Dear Sir,
Subject: Waiver of loan received by Mindteck, Inc. under Paycheck Protection Program from the United States Federal Government.
Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we wish to inform that Mindteck, Inc., (a subsidiary of the Company) received waiver for an amount of USD 2,469,200 along with interest of USD 28,944.51 received as business loan under Paycheck Protection Program from the United States Federal Government.
The US Federal government in the wake of COVID 19 pandemic has provided support to business units through Paycheck Protection Program (PPP). Mindteck, Inc. (a subsidiary of the Company) has obtained a benefit under this scheme for USD 2,469,200 during April 2020. This loan is eligible for forgiveness on fulfillment of certain pre-defined conditions. Mindteck, Inc. has applied for forgiveness by making an application to Small Business Administration (SBA), United States government agency for review and approval. Based on the loan forgiveness approval received from SBA, Mindteck, Inc. is no longer required to repay the loan of USD 2,469,200 and the interest amount of USD 28,944.51 received as business loan under Paycheck Protection Program from the United States Federal Government. We have received confirmation from SBA on June 24, 2021.
Please take the above intimation on record and acknowledge.
Thanking you,
Yours Truly,
For Mindteck (India) Limited
Shivarama Adiga S Shivarama Adiga S.
Digitally signed by Shivarama Adiga S DN: cn=Shivarama Adiga S, o=Mindteck (India) Limited, ou=Legal and Secretarial Department, email=[email protected], c=IN Date: 2021.06.25 10:13:02 +05'30'
VP, Legal and Company Secretary
UNITED STATES INDIA SINGAPORE MALAYSIA BAHRAIN UNITED KINGDOM