Shradha Infraprojects Limited has informed the Exchange about General Updates regarding Satisfaction of Charge created for the Financial assistance of Rupee Term Loan Facility of Rs.35 Crores availed by our wholly owned subsidiary company, Suntech Infraestate Nagpur Private Limited.
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Shradha Infraprojects Limited has informed the exchange that a financial charge created against a Rupee Term Loan Facility of Rs.35 Crores has been fully satisfied. This loan was originally availed by their wholly owned subsidiary company, Suntech Infraestate Nagpur Private Limited. The satisfaction of charge indicates the subsidiary has repaid the entire loan amount. No details on prepayment charges, savings, or timing were disclosed in the announcement.
Positive for shareholders — full repayment of the Rs.35 Crore term loan reduces the subsidiary's debt burden and eliminates the related interest costs, which can improve future profitability and strengthen the balance sheet.