Ester Industries Limited has decided to give corporate guarantee in favour of Bank of India, Bank of Baroda, and HDFC Bank Ltd. (the lenders) for extending working capital facilities in favour of Ester Filmtech Limited, a wholly owned subsidiary of the company for an amount of Rupees one hundred and forty one crores and eighty lakhs only. 

 

The progress on consolidation cum restructuring of overseas business of Time Technoplast Limited is progressing very well and the management along with its advisors i.e. JP Morgan India and Ernst & Young India are at the final stage of negotiation/discussion with the prospective investor. The Management is confident in the closure of the transaction including receipt of sale proceeds in this year. The proceeds will be used for repayment of debt, Capex for composite cylinders (LPG/CNG/Hydrogen), and will also be used to benefit the shareholders.