Back
Corporate News
Crisil Ratings confirms funds were used as planned, with 73.27 crore rupees in fixed deposits
31-Jul-2026, 05:11
Crisil Ratings Limited (CRL), acting as a Monitoring Agency, has confirmed that funds raised by an issuer were utilized as per the original plan, with a significant portion placed in fixed deposits totaling 73.27 crore rupees, held in accounts at State Bank of India, Punjab National Bank, and Indian Bank. The report, dated July 20, 2026, details the specific fixed deposit accounts, amounts, interest rates, and maturity dates, including conversions to United Arab Emirates Dirham. According to the report, there were no delays in implementation since a Notice to EGM dated December 24, 2023, and the Monitoring Agency account has been closed, with funds now managed through the issuer’s current account. CRL’s report includes disclaimers stating it does not provide investment advice or guarantee accuracy, relying instead on information from the issuer and third parties.
Crisil Ratings Limited (CRL), acting as a Monitoring Agency, has confirmed that funds raised by an issuer were utilized as per the original plan, with a significant portion placed in fixed deposits totaling 73.27 crore rupees, held in accounts at State Bank of India, Punjab National Bank, and Indian Bank. The report, dated July 20, 2026, details the specific fixed deposit accounts, amounts, interest rates, and maturity dates, including conversions to United Arab Emirates Dirham. According to the report, there were no delays in implementation since a Notice to EGM dated December 24, 2023, and the Monitoring Agency account has been closed, with funds now managed through the issuer’s current account. CRL’s report includes disclaimers stating it does not provide investment advice or guarantee accuracy, relying instead on information from the issuer and third parties.