Electrotherm (India) Limited — Important, 31-12-2024: One time settlement

Electrotherm (India) Limited has announced a board meeting regarding the extension of a One Time Settlement (OTS) with Central Bank of India. The company successfully paid the entire OTS amount of Rs. 225 crore to settle an outstanding balance of Rs. 383.83 crore. Central Bank of India has extended the period for the remaining interest payment until January 31, 2025. This extension provides the company with additional time to fulfill its financial obligations, which may enhance investor sentiment by reducing immediate financial pressure. The stable resolution of the OTS positions the company favorably for continued operations.