Astron Paper & Board Mill Limited has informed the Exchange about that its wholly owned subsidiary, Balaram papers Pvt Ltd, has closed loan accounts with Canara Bank and regained possession of secured assets.
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Astron Paper & Board Mill Limited's wholly owned subsidiary, Balaram Papers Pvt Ltd, has closed its loan accounts with Canara Bank. As a result, the subsidiary has regained possession of its secured assets that were previously pledged as collateral against the loans. This indicates Balaram Papers has fully settled its outstanding debt obligations with the bank. The specific loan amounts and details of the secured assets have not been disclosed in the announcement.
This is a positive development for the company, indicating reduced debt burden on the subsidiary and freeing up previously pledged assets, though the lack of financial details limits a full assessment of the impact on the consolidated balance sheet.