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Wockhardt up 2.42%

DALAL STREET SPIKES

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The stock gained 2.42 per cent to Rs 175.55 after the company and its Singapore-based lender reached an out-of-court settlement ending their battle over repayment of Rs 44 crore working taken in 2007.

The company will settle the loan at a 19 per cent discount, paying Rs 37 crore to DBS, according to the terms of the consent decree signed on Saturday. Last month, DBS had filed a winding-up petition in the Bombay High Court against Wockhardt, seeking an order to liquidate the company to recover dues.

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Wockhardt up 2.42%

DALAL STREET SPIKES

The company will settle the loan at a 19 per cent discount, paying Rs 37 crore to DBS, according to the terms of the consent decree signed on Saturday.

The stock gained 2.42 per cent to Rs 175.55 after the company and its Singapore-based lender DBS Bank reached an out-of-court settlement ending their battle over repayment of Rs 44 crore working capital loan taken in 2007.

The company will settle the loan at a 19 per cent discount, paying Rs 37 crore to DBS, according to the terms of the consent decree signed on Saturday. Last month, DBS had filed a winding-up petition in the Bombay High Court against Wockhardt, seeking an order to liquidate the company to recover dues.

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