GTL Infrastructure Limited has informed the Exchange about intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Awaiting price reaction for this filing.
GTL Infrastructure has completed a One-Time Settlement (OTS) with Canara Bank, making all required payments and clearing all outstanding dues and disputes. Canara Bank has issued a no-dues certificate, and all legal proceedings filed against the company (including NCLT and DRT cases) will be formally withdrawn by the bank. The company continues to hold similar OTS or restructuring discussions with its other remaining lenders on a bilateral basis. This marks a significant step in the company's debt resolution journey with one of its key lenders.
Positive for shareholders as it removes a major legal and financial overhang with Canara Bank, reducing stress on the balance sheet. However, the stock may see limited upside until the company finalises similar settlements with its other lenders, which still carry unresolved risks.