Autolite (India) Limited is facing severe financial crisis after COVID - 19 pandemic and it was not able to pay monthly installments in time to Kotak Mahindra Bank. The Company had requested Kotak Mahindra Bank to settle their dues. The bank while considering the request of the Company had provided settlement letter to repay INR 145 million against INR 160 million by November 15, 2022.

Accordingly, the Company has repaid the settlement amount on November 15, 2022.