Supreme Infrastructure India Limited has informed the Exchange regarding 'Intimation under Regulation 30 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015 Update on Extension Granted under the ApprovedScheme'.
SUPREMEINF · price
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The NCLT Mumbai Bench has granted Supreme Infrastructure India a 30-day extension to make the balance payment under its approved debt resolution scheme. The delay was due to circumstances beyond the company's control and not due to any default. Approximately 80% of lenders have already completed settlements, and over 80% payment has been made to the remaining lender under the agreed terms. The company states this extension will facilitate successful implementation of the scheme and support continuity of business operations.
The company is progressing with its debt resolution process as the scheme nears completion with most lender settlements finalized. Shareholders can view this positively as it indicates the company is on track to emerge from its debt resolution process.