Debt Settlement8 April 2026 at 05:21 pm
Vardhman Polytex Ltd Settles Outstanding Dues with Phoenix ARC, Curing Earlier Default
AI Summary
Vardhman Polytex Limited has successfully repaid and settled the entire outstanding dues of Phoenix ARC Private Limited using the proceeds from the Non-Convertible Debentures (NCDs) issued by the Company. This repayment has led to the curing and resolution of the earlier default that was being reported to the Stock Exchanges on a quarterly basis. As a result, approximately Rs. 300 Crore pertaining to previous debt settlement liabilities will be written back.
Key Highlights
- Vardhman Polytex Ltd has fully repaid and settled outstanding dues with Phoenix ARC
- The repayment has been made using proceeds from NCDs issued by the Company
- Earlier default reported to Stock Exchanges has been cured and resolved
- Approximately Rs. 300 Crore will be written back due to debt settlement liabilities