Kuantum Papers Limited announced the resolution plan inter-alia provided for converting the interest on term loans for 1 year into FITL along with moratorium of 2 years in the repayment of term loans. In this regard the company announced that in view of better than envisaged business operations and healthy cash flows, the Company has prepaid the entire FITL of INR 360 million in September 2022 which was otherwise repayable up to fiscal year 2029-2030. The company has also undertaken consolidation of banking operations and has refinanced 3 of its lenders by another Bank.

It has further prepaid an amount INR 1,050 million of the restructured term loans in the first week of December 2022. This is in addition to the regular payments due in September 2022 after the moratorium period ended. The total repayment made in the current year constitutes 30% of the restructured term debt in terms of the provisions of RBI circular of 6 August 2020, of the Banks implementing the resolution plan and accordingly the company has requested the lenders for classification of account as Standard from the current classification of Standard- Restructured.