Shriram Transport Finance closes down by nearly 12 per cent; company issues clarification

With respect to corporate guarantee issued by Shriram Transport Finance to its subsidiary SVL, the company has submitted its clarification to bourses.

In its clarification the company stated that promoter group, and its associates, have enough funds to repay this debt whenever it is due.

Further, the company also clarify that it is working with SVL Group to get the settlement of the dues on or before the due date, failing which, the Promoters / Promoter Group of Shriram Transport Finance will address through alternate mechanisms to settle the dues.

During the entire trading session, the stock was trading under selling pressure. The stock shut shop at Rs. 1144.9 per share, down by 11.8 per cent from previous close.