The State Trading Corporation of India Limited — Board Meeting, 07-02-2025: Outcome of Board Meeting

The State Trading Corporation of India Ltd. has announced a board meeting to discuss the One-Time Settlement (OTS) proposal with its lender banks. The board approved the OTS to clear dues amounting to ₹1,906.24 Cr as of December 31, 2018, consisting of a principal of ₹1,697.75 Cr and interest of ₹208.49 Cr. Under the approved plan, STC will make an upfront payment of ₹50 Cr to Canara Bank, followed by 24 equal monthly instalments of ₹6.25 Cr each. This settlement is crucial for resolving ongoing legal matters with the consortium of banks.