Vardhman Polytex Repays ₹1 Cr Towards OCDs from Land Sale Proceeds

Vardhman Polytex Ltd has made a partial repayment of ₹1,00,00,000 (Rupees One Crore) towards its secured, unlisted, redeemable, and optionally convertible debentures (OCDs) held by Special Situation India Fund. This payment was funded by an advance received from the sale of the company's Ludhiana land property. The repayment is in accordance with the OCD subscription agreement, which allows for mandatory redemption upon monetization of mortgaged properties, and follows instructions from the debenture holder. The full sale consideration for the property has not yet been received.