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KOHINOOR
has been ordered by the Debt Recovery Tribunal-III, Delhi to pay INR 926.13 crores to its consortium of banks within 30 days.
This comes while the company is in the midst of a one-time settlement (OTS) agreement, having already deposited INR 205 crores of the total INR 227.45 crores OTS amount. The company is contesting the DRT order and has requested an extension for the OTS payment from member banks.
Two banks have expressed inability to proceed with the OTS due to non-compliance. These financial challenges are impacting Kohinoor Foods' operations and financial activities.
Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations.#Miscellaneous
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