TCM Ltd. Authorizes MD to Accept Rs. 1.37 Crore Term Loan from Indian Bank

The Board of Directors of TCM Ltd. has approved a Term Loan of Rs. 1.37 Crore from Indian Bank, Vytilla Branch, Emakulam. The loan, which carries a variable interest rate of 9.60%, will be used for working capital needs and will be repaid in 174 EMIs over a period of residual 174 months, with a 6-month holiday period for interest servicing. The loan will be secured by mortgaging Door nos. 8/96-2 & 3 of the company's Hi-Lite property in Maradu, Emakulam.