Vardhman Polytex Limited has announced the full settlement of its outstanding dues with Phoenix ARC Private Limited. The repayment was financed through the proceeds from the Company's Non-Convertible Debentures (NCDs). This settlement effectively cures the default that was previously reported quarterly to the stock exchanges. The company anticipates this repayment will trigger a write-back of approximately ₹300 Crore related to previous debt settlement liabilities. The company has informed the National Stock Exchange of India Limited and BSE Limited about this significant development.
