Shah Metacorp Limited informed that on July 28, 2015 and December 28, 2015, the Company defaulted the repayment of a loan availed from State Bank of India (SBI). The details are stated as below: Nature of default: Default in repayment of working capital loan on December 28, 2015 repayable on demand to SBI. Actual amount involved in the default: INR 41,40,00,562/- .

Actual impact of the default: The Company's accounts were classified by the bank as Non-Performing Asset (NPA). Thereafter, the Company approached SBI for One Time Settlement (OTS). Time of occurrence: December 28, 2015.