Secures an interim finance facility up to Rs 100 cr from ECL Finance
Amtek Auto announced that pursuant to agreement of Committee of Creditors for raising interim finance on 06 October 2017, the Company has entered into an agreement with ECL Finance, a Mumbai based subsidiary of Edelweiss Financial Services and availed interim finance facility up to Rs 100 crore under the Facility Agreement dated 24 November 2017 for the purpose of running the company as a going concern and protecting and preserving the value of the assets of the Company during the insolvency resolution process for benefit of all stakeholders.Amtek Auto has been admitted into the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016 vide order dated 24 July 2017 of the NCLT, Chandigarh Bench.
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