At meeting held on 14 July 2021
The Board of Vikas Ecotech at its meeting held on 14 July 2021 has approved the company's debt reduction program, pursuant to which the Company has already submitted its proposal to the bankers for reduction of overall debt from Rs. 158.32 crore to Rs. 112.82 crore which is about 30% in Phase I, earliest by 31 August 2021, subject to bankers approval.The Board also approved the proposal to sell certain non-core, non-business assets of the Company to engender approx. Rs 20-25 crore to be utilised in Phase-II of company's pre-defined debt reduction program, and/or for company's business operations.
The Board approved the proposal to establish a project for manufacturing steel pipe fittings and plastic pipes for gas applications to be supplied to institutional and government projects.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
