Services
GST Registration Online
SMVD Poly Pack Clears ECLGS Loan Payment, No Delayed Payment Charges
Team Finance Saathi
04/Jan/2025
What's covered under the article:
- SMVD Poly Pack Ltd. paid off its ECLGS loan installment, ensuring compliance with SEBI regulations.
- No delayed payment charges were levied, despite internal adjustments by Axis Bank.
- The company updated the National Stock Exchange with details as per SEBI (LODR) Regulations 2015.
SMVD Poly Pack Ltd., a prominent player in the poly pack industry, has completed the payment of its ECLGS loan principal and interest installment. The payment, amounting to Rs. 7,08,333.00, was made on November 16, 2024, and the company has now officially updated the National Stock Exchange of India as part of its ongoing compliance with SEBI’s Listing Obligations and Disclosure Requirements (LODR).
ECLGS Loan Payment Confirmation
In line with Regulation 30 of SEBI’s LODR Regulations, SMVD Poly Pack has provided detailed information regarding its ECLGS (Emergency Credit Line Guarantee Scheme) loan payment. The payment covers both the principal and the interest installment. This payment was settled in full, and the company assures stakeholders that the payment was made promptly without any delays, despite the internal adjustments made by Axis Bank.
The disclosure was made as per the SEBI Circular dated November 21, 2019 (SEBI/HO/CFD/CMD1/CIR/P/2019/140) and provides full transparency regarding the ECLGS loan settlement. The Axis Bank was the authority receiving the loan installment, and the entire amount of Rs. 7,08,333.00 was paid on November 16, 2024.
Internal Bank Adjustments Clarified
While the payment was made from the company’s accounts, the company clarified that there was no delay in payment. The installment was adjusted by the bank in installments rather than a single transaction, but this adjustment did not incur any charges, nor did the bank issue any letters or notifications related to delayed payments. SMVD Poly Pack Ltd. reassured stakeholders that there were sufficient funds available in its accounts to cover the payment, and the adjustment was an internal process within Axis Bank.
Compliance with SEBI Regulations
The disclosure serves as an update on the previously submitted disclosures under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI’s circular regarding financial reporting and compliance. This ensures that SMVD Poly Pack Ltd. remains compliant with SEBI's governance and transparency requirements and maintains the trust of its investors.
By submitting this information, the company has adhered to the best practices of corporate governance and further enhanced its commitment to transparency. The company’s Corporate Secretary, Shikha Agarwal, has ensured that all necessary documentation and disclosures were provided in a timely manner.
For ongoing updates on SMVD Poly Pack Ltd. and other financial disclosures, investors and stakeholders are encouraged to visit the company’s official website SMVD Poly Pack. The company continues to ensure full compliance with all SEBI regulations and aims to keep its investors informed about any developments that may affect the company’s financial status or business activities.
The Upcoming IPOs in this week and coming weeks are Indobell Insulation, Standard Glass Lining, Quadrant Future, Capital Infra Trust, Delta Autocorp, Avax Apparels and B R Goyal.