ST approves terms and conditions of sanction letter from IDB

Mumbai, Mar 24 (UNI) Siddhartha Tubes has approved and accepted the terms and conditions of sanction letter received from Industrial Development Bank (IDB) of India in connection with the restructuring of debts of the company under Corporate Debt Restructuring (CDR) Mechanism.

In a release issued to BSE the company has informed that the Board of Directors at its meeting held on March 23 has also approved and accepted the terms and conditions (which are in line with the terms and conditions of sanction letter received from the Industrial Development Bank of India, Mumbai) of sanction letter dated March 22, received from State Bank of India, Bhopal in connection with the restructuring and sanction of credit facilities of the company under Corporate Debt Restructuring (CDR) Mechanism.

UNI AR MJ AW1607