Kohinoor Foods Moves Toward Financial Stability with Property Release and Settlement

Kohinoor Foods Ltd has taken a significant step in resolving its financial obligations, securing a No Objection Certificate from its lead bank for the release of a property in Haryana. This development is part of a broader restructuring effort aimed at stabilizing the company’s financial position and optimizing asset utilization.  

In addition to the property release, Kohinoor Foods and its investor/buyer have collectively deposited Rs 2 billion toward a one-time settlement, marking a crucial move in addressing outstanding liabilities. The settlement is expected to provide the company with greater operational flexibility, allowing it to focus on core business activities and long-term growth strategies.  

Kohinoor Foods, known for its strong presence in the global basmati rice market, has been working to streamline its financial structure while maintaining its leadership in the industry. The latest developments signal renewed confidence from stakeholders and financial institutions, reinforcing the company’s commitment to sustainable business practices.  

Financial Restructuring Highlights:  
- Kohinoor Foods secures NOC for property release in Haryana, enhancing operational flexibility.  
- Rs 2 billion deposited toward a one-time settlement, supporting financial stability.  
- The company continues efforts to strengthen its position in the global basmati rice market.  

Sources: Business Standard, Economic Times.


 

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