No due certificate
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Baroda Extrusion Ltd has received a No Due Certificate from Brijlaxmi Leasing and Finance Limited after fully settling a secured debt of Rs. 25.51 crores (including disputed interest, penalties, and other charges). The settlement was carried out under a one-time settlement (OTS) via an MOU cum Consent Terms filed before the Debt Recovery Tribunal (DRT) on 3rd October 2024. Following full payment, the lender has released all mortgage charges on the company's fixed assets and properties, released personal guarantees of the promoters, and withdrawn all legal matters. Original security and title documents have been returned to the company and its guarantors.
This is a positive development for shareholders as the company has successfully closed a long-pending legal and financial obligation, removing a significant overhang on its balance sheet. With all charges released and legal matters withdrawn, the company's assets are now fully unencumbered, improving its financial flexibility and potentially its ability to raise fresh credit.