Promoters of Emtex industry, processor and exporter of textile products decided to reduce their stake from current 56 percent in company.
Shiv Prakash Makharia, Chairman of Emtex informed that company has received Rs2 crore toward debt settlement.
Company has settled its old litigation with United Western Bank in beginning of August repayment of Rs36.4 crore as debt against outstanding claims worth Rs156 crore by a consortium of banks led by United Western Bank, informed Chairman.
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