Swastik Pipe Limited Receives Legal Notice from DRT Regarding Credit Facility Status
Swastik Pipe Limited has received a formal legal notice issued by the Debt Recovery Tribunal (DRT), Chandigarh, concerning its credit facilities. The development comes in the context of ongoing discussions regarding the company's Non-Performing Asset (NPA) status and potential resolutions with lenders.The notice was received by the company on July 16, 2026. It was initiated by Canara Bank, which is one of the consortium members for the credit facilities, with copies also marked to the Lead Bank, State Bank of India (SBI), and other participating consortium lenders.
The company clarified that the notice from DRT Chandigarh represents a procedural step taken by Canara Bank as part of its mandatory internal legal and recovery compliance procedures.
Despite receiving the tribunal’s summons, Swastik Pipe Limited stated that it remains actively engaged in discussions and bilateral communications with the Lead Bank (SBI) and all consortium partners. The company is working through various comprehensive proposals which are currently under active evaluation to achieve a mutually acceptable resolution.
Swastik Pipe Limited confirmed that it is securing appropriate legal counsel to respond to the DRT notice within the stipulated timeframe. Simultaneously, the management of the company is prioritizing an amicable resolution of all debts mechanisms in collaboration with the SBI-led consortium members.
SWASTIK Stock Price Movement
Shares of Swastik Pipe Limited are edging higher to ₹21.80 as of 2:07 PM today, jumping a considerable 21.45% and gaining ₹3.85 over the market session. The significant surge in the Industrial Products sector reflects strong buying interest despite continued volatility across SME equity listings.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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