Kohinoor Foods Limited — Important, 24-12-2024: One time settlement

Kohinoor Foods Limited has received approval for its one-time settlement (OTS) proposal from the lead consortium lender, amounting to ₹227.45 crore, plus future interest. The upfront payment of ₹25 crore is to be made immediately, followed by ₹175 crore due within three months. Completion of this settlement is expected to enable the company to resume operations, addressing financial challenges it has faced since being declared a non-performing asset in 2018. Investors may view this development as a potential turning point for the company, with improved operational capabilities and restored banking relationships, bolstering a positive outlook.