We would like to state as under:
1. The Companys WOS Panacea Biotec Pharma Limited (PBPL) has issued Series 1A Series 1B and Series 3 NCDs to Debenture Holders in 2020.
2. The said NCDs were issued pursuant to the structured credit availed by the Company in 2019 and is repayable by April 2024. While the repayment date of Series 1B and Series 3 NCDs is in April 2024 the Series 1A NCDs were repayable earlier out of funds from divestment of non-core immovable properties which had got delayed due to the Covid-19 pandemic.
3. The said Series 1A NCDs have partly been redeemed in the past and for balance amount PBPL has got extensions from IndiaRF. We hope to liquidate the said assets soon with the recovery in the real estate market.
4. As on date no amounts are overdue on account of the said Series 1A NCDs.
5. The Company and its WOS PBPL has sufficient cash flows to take care of its operations and ongoing development programs.
You are requested to take the same on records
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