Shares of GTL Infrastructure Limited were in focus on Thursday, September 25, after the company announced it has successfully completed its one-time settlement (OTS) with Canara Bank.
In an exchange filing, the telecom infrastructure firm said it has made all required payments and settled its outstanding dues and disputes with the bank. Following the settlement, Canara Bank has issued a “no dues” certificate, confirming that all claims and legal proceedings, including those before the National Company Law Tribunal (NCLT) and Debt Recovery Tribunal (DRT), stand resolved. The bank is in the process of formally withdrawing these cases.
The company also noted that it continues to pursue OTS and restructuring discussions with its other lenders on a bilateral basis.
This development marks a crucial step in GTL Infrastructure’s debt resolution journey, providing relief from long-standing litigation with one of its key lenders.
