OSWALSPINNINGAND WEAVTNGMILLS LTD

HtrAD OTFICE& WORKS:C,T. ROAD,

DAII:26,08.2016

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rclahg lo sesnreDt reForlinsis nol applicablc.
Kora( Mahindn BankLtd. hasissueda noriceunderSARFAESIAct, 2OO2 demflrdineRs. 63.43
i o r i p x r ' r i i o . ! r o \ a r i o F ! o i I i ' n e r ' . d r ' x . a . p e l a te . o ; d i d e r . ,
th.reon.*hich thc Conpanyhls Contestedillecaland Nnhoutany bsh betorethe Hon. Hiet
' frol ltr aoo'a L\ono DLi" l"p!eeorC ' e . o f p a J p l e a o ckda r N M B | f o d r ; t l
admiftd nr theiraindarnthattl]cprincipai&InleFslamounhin iespectofTemrtoan @countM
standard. The only issuera rharof alleceddefauhof EPCFacihy for & moml of Rs.t.jt Cr
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dhposedolfbv fJoD.High Cotrnon I1.04.2016 puEly on iurisdicrional eromds.Assi.ved by rlh
dccisio.rhecomp.nrr|as liled RevievPetirion beforethe Hon.High Couftofpujab andHaryana

skLellaDkolPaliaia (SBOP)hasii cd an liplicalion belbrethc DeblsRecoleq T bunal(DRT)
Clrtrd sxrh llr recolcryol an dmountof Rs.4.09cr. (bcingNPV of Rs. 2.88f. ot CRIS of Rs.
5:18cf. andnrteit$ lheFon).ThcscCRPshavealeady bcenissuedby the Conpanyto the Banh.
Funhcr lhe c.frpmy bad agftd to pav lhe NPV of CR?S becaus SBOP had irfomed rhe
C.Duan, lhardreyhadran edthemrounrofRs i.29 cr. bcingincEst payable by theCompdy to
SBoP llo\€!er.lar$on ir basn"Dspircd rhri in$erd ol {diver. SBOPlas lransfere{t
thc interest
ol Rs. 5.29 cr. 1o K.tak MahindF Bank Limilcd (KMBL) vide assiemenrlsrement dated
16 11.2007dr.rcbyliollling thc teansmd condiiionsof lhe aErenenrthal rheyenicredinrohad
Nirhdreconpan) On IIis sroundtheapplicarion ofthe bankh beingcontesledby rheConrpany in

IFcl hasnled applicationbefoE the Dcbh Rc.overy Tnbunll (DRT) Clandigarhlor rccovcry of
an ahounlofRs 234?02 racs(Rs 1269.821acs bci.e.noht ofFITL ed balece amountbein,:
r- r l e r e o c ' .1 . ' 1 . r . . o f i l c d1 . o 1 p r \ p r r ' , ' t . h I e P L ' i . b d 1 d t J D , n a A r . o r ;
undq sedioD433,43.1& 419 for Rcco\eryof le abo\e mentioned eiounl/ windingup ofrhe
(onpaD! lheCoDpanrhconresringborhthe applicalion aDdConpnDypetitiononthegroundthar
bt \r.r of assienDrent ofdeb! IFCI hasssigncdlrdsGrredlhe enrneduesinctudingftTL ofRs.
116982 lacspa]?bleb) rhc Companyto tFCt on t6.i1.2007in favonr.f (olak Malindia Bank
Linned vidcAssigntucnr Aereement daledt6 tt.200?andanerlhat nofiingis duedd payabteby

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7 ilG?lLrn! hd beD protided.naccrual ofcntuny Act.t972.

ByOrdc.oftheBolrd
For OSWAL SPINNINCAND WEAVING IflLLS LTD,

D]\TliD:26.03.2016 TNGDIR.OCTOR