Satchmo Holdings Secures Rs 109 Crore Debt Settlement Approval from Asset Reconstruction Company
Satchmo Holdings Limited and its two wholly-owned subsidiaries have received approval for a one-time settlement (OTS) of Rs 109 crores from an Asset Reconstruction Company. The settlement, approved by the company's Board on August 5, 2025, includes Rs 70 crores for Satchmo Holdings and Rs 39 crores for its subsidiaries. The payment is due by September 30, 2025, aimed at resolving the entire loan outstanding with the ARC and reducing consolidated debt.
25Jul 25
Satchmo Holdings Reports Rs 261 Lakh Loss in Q1, Exits Real Estate Projects
Satchmo Holdings Limited reported a consolidated net loss of Rs 261.00 lakhs for Q1 FY24, compared to a profit of Rs 2,935.00 lakhs in Q1 FY23. Revenue from operations declined to Rs 13.00 lakhs from Rs 183.00 lakhs year-on-year. The company is exiting residential real estate projects, focusing on service business segments. It's negotiating debt restructuring with JC Flowers ARC and HDFC Limited. JC Flowers ARC has initiated insolvency proceedings against Satchmo Holdings for dues of Rs 38,595.00 lakhs, with the NCLT hearing scheduled for July 24. Auditors have raised concerns about the company's ability to continue as a going concern.