Canara Bank along with other lenders accepted a ₹522-crore one time settlement offer from Supreme Housing and Hospitality. This settlement will help the company resolve debts close to ₹700 crore, representing a 75% recovery for involved banks. The one-time settlement includes both fund and non-fund exposure from corporate guarantees given to subsidiary entities.
This is a short summary. The full article is published by ET Realty — click above to read it on their website.
← Back to all articlesDisclaimer: News and articles on Rooftr are collected from various sources for information purposes only. The content may not always be independently verified and does not necessarily reflect Rooftr’s views. All content belongs to its respective owners. Rooftr is not responsible for errors in third-party content or decisions made based on it, to the extent permitted by law. For corrections or copyright concerns, please contact us through our website.