 "ilfs, IL&FS")
Chennai based C Sivasankaran group company, Siva Shelters and Constructions Pvt Ltd, has offered to settle all its dues with IL&FS Financial Services Ltd by offering to pay the entire principal amount and interest.
According to the settlement proposal sent to IFIN, Siva Shelters said of the dues worth Rs 76 crore claimed by IFIN, it will pay Rs 50 crore along with the normal interest at the rate of 14% per annum until all dues are fully cleared, amounting to Rs 17.23 crore. The company also promised to pay penal interest per annum till entire dues are paid.
Siva
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