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Tilaknagar Industries Ltd — Capital/Financing Update 2020
Apr 7, 2020
60357_rns_2020-04-07_9c5203cd-a61c-428b-ac29-fcebd7514a4b.pdf
Capital/Financing Update
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CIN: L15420PN1933PLC133303
Registered Office: P.O. Tilaknagar, Tal. Shrirampur, Dist. Ahmednagar, Maharashtra-413 720 Corporate Office: 3[rd] Floor, Industrial Assurance Building, Churchgate, Mumbai, Maharashtra-400 020 Email : [email protected], Website: www.tilind.com, Phone: +91 22 22831716/18, Fax: +91 22 22046904
ONLINE FILING
Ref: TI/BSE/COMP/20-21/01 April 07, 2020
To, The Manager (Listing), BSE Limited, P.J. Towers, Dalal Street, Mumbai – 400 001 Ph: 022 2272 5092/3030 Fax: 022 2272 3353
Sub: Intimation regarding One Time Settlement of Bank of India’s Dues pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015 Ref: Scrip Code – 507205
Dear Sir/Madam,
We wish to inform you that the Company has completed the payment of the compromise amount in full and final settlement of its dues to Bank of India (BOI) as per the terms contained in the One Time Settlement sanction letter dated 19.03.2018 issued by BOI. The Company has also received the No Dues Certificate from BOI confirming that there are no dues pending against the Company as the Company has paid the full compromise amount as per the terms of the OTS approved by the Bank. Details of the same, as required pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, are furnished herein below:
REASONS FOR OPTING FOR OTS
The Company opted for One Time Settlement as the Company’s Account has been classified as NPA by the Bank.
BRIEF SUMMARY OF THE OTS
As per the OTS, the Company has settled the dues to the Bank by paying Rs. 95.00 Crores (OTS amount) towards full and final settlement of the total dues of Rs. 264.85 Crores payable to the Bank as per Company’s records.
Kindly acknowledge the receipt and take the same on your record.
Thanking you,
Yours faithfully,
For Tilaknagar Industries Ltd.
GAURAV Digitally signed by GAURAV BRAHMDEV THAKUR DN: c=IN, o=Personal, postalCode=401208, st=Maharashtra, BRAHMDEV 2.5.4.20=eeeb60b9266735dbdea85be4061670fb0a1a017785209e3e5762ec5321b75d45, serialNumber=8acae4809d7b06f2335e846477 b2a278e32a3863e94da911829d49b11330c11 THAKUR a, cn=GAURAV BRAHMDEV THAKUR Date: 2020.04.07 09:14:46 +05'30'
Gaurav Thakur Company Secretary