Board of Mawana Sugars agrees to enter into one time settlement with Punjab National Bank
On 21 March 2017
Mawana Sugars announced that the Board of Directors of the Company, vide resolution dated 21 March 2017, has agreed to enter into one time settlement with Punjab National Bank (PNB) Muzaffarnagar, Uttar Pradesh.Purpose of the OTS: Resolution of NPA debt.
Summary Details of the OTS: Settling Company's total memoranda dues of Rs. 109.46 crores (as per PNB), for a consolidated agreed amount of Rs. 79.79 crores, payable over 15 month without interest.
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First Published: Mar 22 2017 | 10:07 AM IST