Cerebra Integrated Technologies Limited has informed the Exchange about General Updates
CEREBRAINT · price
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Awaiting price reaction for this filing.
Cerebra Integrated Technologies has received a demand notice dated July 9, 2025 from Canara Bank under Section 13(2) of the SARFAESI Act, 2002. The notice relates to outstanding credit facilities totaling approximately Rs. 23.54 crores (including interest), which the bank classified as a Non-Performing Asset (NPA) on June 30, 2025. The credit facilities include a cash credit/overdraft account of Rs. 22 crores, a GECL term loan of Rs. 1.40 crores, and multiple bank guarantees. Canara Bank has given the company 60 days to repay the dues, failing which it can take possession of secured assets (including the company's Peenya Industrial Area property in Bengaluru and industrial land in Narsapura, Kolar) or take over management of the business. The company has stated it is reviewing the notice and evaluating legal remedies.
This is a serious negative development indicating significant financial distress. If unresolved, the bank can seize company assets or take over management, which could severely impact operations and shareholder value. The stock is likely to face selling pressure given the scale of the default relative to the company's size.