Business Update16 Apr 2025, 08:23 pm
Himalaya Food International Ltd. Settles Rs. 43 Crores OTS with Consortium of Lenders led by SBI
AI Summary
Himalaya Food International Ltd. has announced an update regarding the One-Time Settlement (OTS) arrangement with the consortium of lender banks led by State Bank of India (SBI). The consortium, comprising SBI, Union Bank of India, Bank of Baroda, and EXIM Bank, has approved the terms for the balance OTS amount of Rs. 43.00 Crores. The Company has already deposited 10% upfront, amounting to Rs. 4.30 Crores. The Bank will release each of the non-core properties upon deposit of an amount aligned with the latest valuation reports specified in the sanction letters. This development marks a significant milestone in the Company’s financial restructuring and revival roadmap.
Key Highlights
- Himalaya Food International Ltd. settles Rs. 43 Crores OTS with consortium of lenders led by SBI
- The consortium comprises SBI, Union Bank of India, Bank of Baroda, and EXIM Bank
- Company has already deposited 10% upfront (Rs. 4.30 Crores) of the OTS amount
- Bank will release non-core properties upon deposit of an amount aligned with the latest valuation reports
- This development marks a significant milestone in the Company’s financial restructuring and revival roadmap