Spice Energy Writes Off Rs 3,57,40,630.70 Loan Owed to SRM Energy Ltd
SRM Energy Limited has received confirmation regarding the full write-off of an outstanding loan advanced to it by M/s Spice Energy Private Limited.The intimation confirms that Spice Energy Private Limited has written off in full the outstanding loan amount amounting to Rs 3,57,40,630.70, which had been previously advanced by SRM Energy Ltd.
Following this write-off by Spice Energy Private Limited, the related liability will be extinguished in the books of accounts of SRM Energy Limited and will be accounted for according to applicable accounting standards.
Stock Price Movement
At the close of trade on Monday, SRM Energy Ltd. settled at ₹17.76, registering no change in its stock price. The shares spent the entire trading period locked completely flat, holding steady at the intraday level of ₹17.76.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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