Quarter 2 - 2022-2023
September 12,2022
Intimation regarding Settlement Agreement with Central Bank of India – Payment made – Filing of Withdrawal application before NCLT
Pursuant to the execution of settlement agreement with Central Bank of India and payment having been made accordingly, application filed by Central Bank of India against the Company under section 7 of Insolvency and Bankruptcy Code 2016 has been withdrawn today.
August 29, 2022
Intimation regarding Settlement Agreement with Central Bank of India – Payment made – reg :
Please refer to our letter dated August 24, 2022 regarding signing of settlement agreement with Central Bank of India.
We wish to inform you now that the agreed amount has been paid today.
August 24, 2022
Sale of Rig Deep Driller 2
Please refer to our announcement dated 29 th July 2022 regarding the sale of Jack-up Rig Deep Driller 2 owned by our Step down subsidiary.
We wish to inform you that the transaction has been completed today.
Intimation regarding Settlement Agreement with Central Bank of India
Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we wish to inform you that the Company has entered into a settlement agreement dated 24 th August 2022 with Central Bank of India,one of the Financial Creditors of the Company.
As per the terms of the settlement agreement, the Company has agreed to pay and the Bank has agreed to accept the outstanding principal of Rs.121,78,41,258/- (Rupees One Hundred and Twenty One Crores Seventy Eight Lakhs Forty One Thousand Two Hundred Fifty Eight Only) within 30 days from the date of this agreement being the full and final settlement of all the credit facilities.
Upon full payment of the settlement amount in accordance with the agreement, the Bank will release all the security, claim, charges, pledge or similar nature in relation to the Credit facilities. The Bank will also withdraw the application filed under Section 7 of The Insolvency and Bankruptcy Code, 2016.
July 29, 2022
Sale of Rig Deep Driller 2
We had in our letter dated 30th June 2022 informed that the date of completion of Sale of our above mentioned Rig as 31st July 2022 owned by our Stepdown subsidiary. However the transaction could not be completed. Hence the date of completion of the transaction stands extended to 31st August 2022.
July 28, 2022
A Letter of Award has been received for deployment of jack-up rig ABAN III from ONGC for a firm period of three years. The deployment is expected to commence during the first quarter of the Calendar year 2023.
July 25, 2022
This is to inform that a Meeting of Board of Directors of the Company will be held on Wednesday, the 3rd August 2022 to transact the following items.
To consider and take on record the Unaudited Quarterly Standalone Financial Results of the Company for the period ended 30th June 2022.
To consider and take on record the Unaudited Quarterly Consolidated Financial Results of the Company for the period ended 30th June 2022.
July 14, 2022
Sale of Rig Deep Driller 8
Please refer to our letter dated June 10, 2022 regarding the sale of Jack-up Rig Deep Driller 8 owned by our Step down subsidiary.
We wish to inform you that the transaction has been completed today.
July 13, 2022
Sale of Rig Deep Driller 7
\ Please refer to our letter dated June 17, 2022 regarding the sale of Jack-up Rig Deep Driller 7 owned by our Step down subsidiary.
We wish to inform you that the transaction has been completed today.
July 8, 2022
Sale of Rig Deep Driller 6
Please refer to our announcement dated 30th June 2022 regarding the sale of Jack-up Rig Deep Driller 6 owned by our Step down subsidiary.
We wish to inform you that the transaction has been completed today.
Intimation regarding Settlement Agreement with Central Bank of India – Payment made – Filing of Withdrawal application before NCLT
Pursuant to the execution of settlement agreement with Central Bank of India and payment having been made accordingly, application filed by Central Bank of India against the Company under section 7 of Insolvency and Bankruptcy Code 2016 has been withdrawn today.
August 29, 2022
Intimation regarding Settlement Agreement with Central Bank of India – Payment made – reg :
Please refer to our letter dated August 24, 2022 regarding signing of settlement agreement with Central Bank of India.
We wish to inform you now that the agreed amount has been paid today.
August 24, 2022
Sale of Rig Deep Driller 2
Please refer to our announcement dated 29 th July 2022 regarding the sale of Jack-up Rig Deep Driller 2 owned by our Step down subsidiary.
We wish to inform you that the transaction has been completed today.
Intimation regarding Settlement Agreement with Central Bank of India
Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we wish to inform you that the Company has entered into a settlement agreement dated 24 th August 2022 with Central Bank of India,one of the Financial Creditors of the Company.
As per the terms of the settlement agreement, the Company has agreed to pay and the Bank has agreed to accept the outstanding principal of Rs.121,78,41,258/- (Rupees One Hundred and Twenty One Crores Seventy Eight Lakhs Forty One Thousand Two Hundred Fifty Eight Only) within 30 days from the date of this agreement being the full and final settlement of all the credit facilities.
Upon full payment of the settlement amount in accordance with the agreement, the Bank will release all the security, claim, charges, pledge or similar nature in relation to the Credit facilities. The Bank will also withdraw the application filed under Section 7 of The Insolvency and Bankruptcy Code, 2016.
July 29, 2022
Sale of Rig Deep Driller 2
We had in our letter dated 30th June 2022 informed that the date of completion of Sale of our above mentioned Rig as 31st July 2022 owned by our Stepdown subsidiary. However the transaction could not be completed. Hence the date of completion of the transaction stands extended to 31st August 2022.
July 28, 2022
A Letter of Award has been received for deployment of jack-up rig ABAN III from ONGC for a firm period of three years. The deployment is expected to commence during the first quarter of the Calendar year 2023.
July 25, 2022
This is to inform that a Meeting of Board of Directors of the Company will be held on Wednesday, the 3rd August 2022 to transact the following items.
To consider and take on record the Unaudited Quarterly Standalone Financial Results of the Company for the period ended 30th June 2022.
To consider and take on record the Unaudited Quarterly Consolidated Financial Results of the Company for the period ended 30th June 2022.
July 14, 2022
Sale of Rig Deep Driller 8
Please refer to our letter dated June 10, 2022 regarding the sale of Jack-up Rig Deep Driller 8 owned by our Step down subsidiary.
We wish to inform you that the transaction has been completed today.
July 13, 2022
Sale of Rig Deep Driller 7
\ Please refer to our letter dated June 17, 2022 regarding the sale of Jack-up Rig Deep Driller 7 owned by our Step down subsidiary.
We wish to inform you that the transaction has been completed today.
July 8, 2022
Sale of Rig Deep Driller 6
Please refer to our announcement dated 30th June 2022 regarding the sale of Jack-up Rig Deep Driller 6 owned by our Step down subsidiary.
We wish to inform you that the transaction has been completed today.