Banking News

PTC Fin Serv receives pre-payment of Patel Darah-Jhalawar Highway loan

PTC India Financial Services on Thursday said it has received full pre-payment of its loan account of Patel Darah-Jhalawar Highway. The erstwhile independent directors of the company had highlighted the loan account, and hence, as a matter of prudence, PTC India Financial Services has taken proactive measures to recover the entire outstanding dues, the company said in a statement.

“PTC India Financial Services (PFS) announce that it has received full pre-payment of its loan account of M/s Patel Darah-Jhalawar Highway for the four-laning of a 48.88 km stretch in Rajasthan,” it said.

The pre-payment of loan includes the recovery of entire dues, including interest and other applicable charges.

PFS MD & CEO Pawan Singh said the account (Patel Darah-Jhalawar Highway in Rajasthan) was having satisfactory conduct in the lender’s books.

“Our team worked diligently to ensure the recovery of all outstanding dues, including interest and other charges. This pre-payment demonstrates our commitment to responsible lending and our ability to effectively manage credit risk,” Singh said.

The amount received through pre-payment has been deployed for onward lending to sustainable green infra projects, PFS statement said.

Source link