Purti says it settled entire outstanding to as OTS norms.

With CAG flaying IREDA for "violation of guidelines" in loan given to a Purti firm, the group today said it had settled the entire debt outstanding as per one-time settlement (OTS) norms.
"CAG report clearly mentions that in April 2014, the IREDA management told the CAG that PSKL settled the entire loan outstanding as per OTS norms," Purti Power & Sugar Ltd said in statement today.
"While settling the repayment of the loan as per the OTS norms with IREDA, PSKL (Purti Sakhar Karkhana Limited) furnished all necessary documents and replied to all their queries to their satisfaction," it added.

Government auditor CAG has flayed state-run IREDA for "violation of financial guidelines" in connection with Rs 48.65-crore loan to Nagpur-based Purti Sakhar Karkhana for which company's promoters and directors including Nitin Gadkari had given "personal guarantee".
According to Purti statement, CAG report tabled in Lok Sabha is about OTS of the Indian Renewable Energy Development Agency Limited (IREDA). As per the CAG report, PSKL is one of the 29 cases processed under OTS.
It further said, "In the light of the CAG report, even now if the IREDA management sends us any query/document or explanation notice, PSKL will be too glad to comply with to the satisfaction of the IREDA management."

"PSKL has always been a law abiding entity and has nothing to hide and will fully cooperate with the IREDA management in any manner whatsoever which they may deem necessary to satisfy the CAG," it added.