An alternative investment fund backed by SC Lowy has invested in non-convertible debentures (NCD) in the last week of March. While Pharande NCDs do not pay any interest up to June 30, 2024 and 14% until maturity on March 31, 2026, Srinagar Banihal has offered 16% on the NCDs. The proceeds will be used for loan repayments and for working capital, a source said.
Cyber Media India Ltd has now paid the entire OTS amount of Rs. 14.25 crore, and accordingly, the loan account with PARAS has been closed, and the mortgaged / pledged / hypothecated immovable / movable properties of the Company have been released.