DRT Kolkata disposes old recovery case after full settlement
ARCL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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DRT-I Kolkata has disposed of an old debt recovery case (OA/86/2005) filed by Stressed Assets Stabilisation Fund against Allied Resins (now ARCL Organics) after the company paid the full settlement of about Rs 8.23 crore plus Rs 21.95 lakh interest. No penalty was imposed and no non-compliance was flagged. With the case closed, ARCL can now get release of the charge on its main manufacturing land at Rampur, where its existing plant operates.
Positive: long-pending debt case fully closed with no penalty, and main manufacturing land at Rampur will be freed from encumbrance.