Punjab National Bank filed a petition against Matoshri Laxmi Sugar Co-Generations Inds. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. Both parties reached a consent agreement, where the borrower agreed to pay Rs. 67.00 crores through a One Time Settlement (OTS). The borrower had already paid Rs. 5.75 Crore as an upfront payment on 2019-03-27 and Rs. 13.25 Crore till 2019-05-07. The remaining amount was to be paid in installments: Rs. 19.00 Crores by 2019-12-31, Rs. 19.00 Crores by 2020-03-31, and Rs. 10 Crores by 2020-12-31. The borrower was required to deposit Post Dated Cheques (PDCs) for these installments. The court disposed of the petition as withdrawn, based on these consent terms.

Punjab National Bank filed a petition against Matoshri Laxmi Sugar Co-Generations Inds. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. Both parties reached a consent agreement, where the borrower agreed to pay Rs. 67.00 crores through a One Time Settlement (OTS). The borrower had already paid Rs. 5.75 Crore as an upfront payment on 2019-03-27 and Rs. 13.25 Crore till 2019-05-07. The remaining amount was to be paid in installments: Rs. 19.00 Crores by 2019-12-31, Rs. 19.00 Crores by 2020-03-31, and Rs. 10 Crores by 2020-12-31. The borrower was required to deposit Post Dated Cheques (PDCs) for these installments. The court disposed of the petition as withdrawn, based on these consent terms.