Thursday, February 1, 2001
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Shaw Wallace repays Rs 114 cr to 97 creditors 

Our Corporate Bureau  
Kolkata, Jan 31 : Shaw Wallace & Co Ltd on Wednesday repaid Rs 114 crore to 97-odd creditors under a court supervised process. The funds came from an escrow account in which the company had deposited Rs 116 crore. The balance in the escrow will be deposited with the registrar of the Calcutta High Court.

In the early nineties, the company had taken huge loans by way of inter-corporate deposits and bill discounting. Today's repayment process covered around 106-odd creditors who had filed either suits or winding-up petitions for recovering of their money.

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