Shah Alloys has signed settlement agreement, with Assets Reconstruction Company India (ARCIL).

In a press release the company stated that, it has entered into settlement agreement with ARCIL, in respect of credit facilities availed by the company and the settled amount to be paid up to 31.12.2020 and 31.03.2022.

Moreover, Karur Vysya Bank and IDBI Bank had assigned their entire outstanding debts to ARCIL.

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