Legal11 Mar 2026, 03:39 pm
Tijaria Polypipes Proposes One-Time Settlement of Rs. 38 Crore to Bank of India
AI Summary
Tijaria Polypipes Ltd, a National Award-winning MSME group, has proposed a One-Time Settlement (OTS) of Rs. 38 Crore to Bank of India for the full and final discharge of all liabilities. The group has already deposited Rs. 12 Crore and proposes to remit the remaining Rs. 26 Crore in three equal monthly installments within 90 days of the sanction. The proposal is based on the technical and commercial realities of their account and their sincere intent to seek an honorable exit.
Key Highlights
- Tijaria Polypipes proposes a One-Time Settlement of Rs. 38 Crore to Bank of India
- The group has already deposited Rs. 12 Crore and proposes to remit the remaining Rs. 26 Crore in three equal monthly installments
- The proposal is based on the technical and commercial realities of their account
- The group seeks a waiver of the Funded Interest Term Loans (FITL) component, which represents 'interest-on-interest’ capitalized during a period of total operational shutdown
- The proposal is a demonstration of the group's sincerity and intent to seek an honorable exit rather than litigation