Pioneer Embroideries updates on One Time Settlement with SBI

Engaged on 15 September 2015

Pioneer Embroideries announced that the Company has settled its total dues including Optionally Convertible Cumulative Redeemable Preference shares (OCCRPS), from State Bank of India under a One Time Settlement (OTS) and paid the settlement amount in full on 15 September 2015.

The Company has made necessary adjustments in its books including cancellation of the OCCRPS surrendered by the Bank.

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