The board of MIC Electronics has approved a one-time settlement (OTS) proposal. The company and State Bank of India have mutually agreed for an OTS of the working capital loan. Accordingly, the bank has agreed to waive off the total outstanding interest of ₹22.46 crore. Following this, the total outstanding due of the company has reduced to ₹57.43 crore. Shares of MIC Electronics gained 3.8 per cent at ₹15.1 on the NSE.
MIC Electronics Limited
Published on
August 8, 2016 17:48
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