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Future Lifestyle Fashions announced that identified lenders, concerned banks and the Company have executed necessary agreements, deeds, undertakings and relevant documents on 30 April 2021 for Implementation of One Time Resolution (OTR) Plan under Reserve Bank of India, 6 August 2020 circular on Resolution Framework for COVI D 19 related stress. Powered by Capital Market - Live News (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary o...

SP group close to debt settlement with bankers January 27, 2021 Shapoorji Pallonji Group (SP Group) is in the final stages of concluding its One Time Resolution (OTR) plan, which was invoked by its lenders on October 26, 2020, following the group’s inability to repay debt. However, a time line for the OTR, which was to safeguard the financial interest of all stakeholders and protect the livelihoods of the group’s employees and contractors, was not immediately available. Shapoorji Pallonji and Company Private Ltd (SPCPL), the holding company of the 150-year-old SP Group, had sought the OTR...