Eastern Treads Signs Loan Agreement with Chairman; Shares Fall

MT Newswires Live

2025/03/18

Eastern Treads (BOM:531346) said it signed a loan agreement with Chairman Navas M Meeran to formalize the continuation of pending loan repayment, according to an Indian bourse filing on Monday.

The outstanding loan of 18 million Indian rupees, including accrued interest as of Feb. 28, carries an annual interest rate of 7.95% and a three-year repayment period, the filing said.

The new agreement replaces expired agreements from 2021 and 2022, it added.

Shares of the company were down 0.5% in recent trading.

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