Tijaria Polypipes Limited Proposes One-Time Settlement with Bank of India
Jaipur, March 30, 2026 – Tijaria Polypipes Limited has submitted a comprehensive one-time settlement (OTS) proposal to Bank of India, aiming to resolve outstanding liabilities. The proposal, dated March 23, 2026, follows discussions with Bank of India's management at their Mumbai office on March 13, 2026.Tijaria Polypipes Limited is proposing a settlement of Rs. 53,67,00,000/- (Rupees Fifty-Three Crore and Sixty-Seven Only) to cover all outstanding liabilities. The company has already deposited Rs. 12.00 Crore with the bank and is making an upfront payment of Rs. 5.37 Crore.
The proposal outlines the following key elements:
- Realizable Value Assessment: The company notes that the primary security, the Sitapura Plant & Machinery, has been non-operational for over four years and has reached a stage of obsolescence.
- Funded Interest Term Loan (FITL) Component: Rs. 9.52 Crore of the current book balance consists of FITL, which the company believes should be waived for a sustainable settlement.
- Demonstrable Intent: Tijaria Polypipes Limited has already placed Rs. 12.00 Crore in the hands of the Bank.
- Proposed Payment Schedule:
| Rs. (Crores) | Percentage (approx) | Timeline (on acceptance of OTS proposal) | |
|---|---|---|---|
| OTS Offer | 53.67 | ||
| Amount already deposited under no-lien account | 12.00 | 22.36 | Already paid |
| Up Front Payment | -5.37 | 10 | Same day |
| Mid Payment (1st Instalment) | 5.00 | 9.3 | Within 60 days |
| Mid Payment (2nd Instalment) | -4.47 | 8.34 | Within 90 days |
| Final Instalment | 26.83 | 50 | Within 180 days |
The company requests the bank to release property documents for Daulatpura land, clearance of the ROC charge on the already sold property (VKI property), and permission for the issuance of share rights/preferential shares/debentures. The company has requested that bank account be opened for settlement of OTS proposal and also requested a waiver of interest for 90 days.
Upon acceptance, Tijaria Polypipes Limited is prepared to withdraw all pending litigations. The proposal is contingent on acceptance by April 15, 2026, after which the offer of Rs. 53.67 Crore will be considered void.
Source:
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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.