Loan Agreement9 April 2026 at 07:11 am
Oil Country Tubular Ltd Approves Term Loan Agreement of Rs. 6.82 Crores with Cosmos Co-Operative Bank Ltd
AI Summary
Oil Country Tubular Ltd's Board of Directors approved a Term Loan Agreement with Cosmos Co-Operative Bank Ltd on 09.04.2026. The company will avail a Term Loan facility amounting to Rs. 6.82 Crores (Rupees Six Crores Eighty-Two Lakhs Only) for purchasing new machinery/equipment. The company holds 20 equity shares at the rate of Rs. 100/- each in the Bank. The loan agreement includes a Bank's Mortgage charge on an Industrial Shed located at a specific address in Andhra Pradesh.
Key Highlights
- Oil Country Tubular Ltd approved a Term Loan Agreement with Cosmos Co-Operative Bank Ltd.
- The loan amount is Rs. 6.82 Crores (Rupees Six Crores Eighty-Two Lakhs Only).
- The purpose of the loan is to purchase new machinery/equipment.
- The company holds 20 equity shares at the rate of Rs. 100/- each in the Bank.
- The loan agreement includes a Bank's Mortgage charge on an Industrial Shed.