Shah Metacorp Limited defaulted the repayment of working capital loan repayable on demand to UCO Bank. Actual amount involved in the default INR 357.975 million. Actual Impact of the default and corrective measures taken by the Company.

The Company's accounts were classified by the bank as Non-Performing Asset (NPA). Thereafter, the Company approached UCO Bank for One Time Settlement (OTS). Time of occurrence " May 2016.

Person(s) involved: Default in repayment of loan by Gyscoal Alloys Limited (presently known as Shah Metacorp).