Cerebra Tech clears all debts

February 21st, 2008 - 3:00 pm ICT by admin  

Mumbai, Feb 21 (IANS) Bangalore-based hardware and software solutions company Cerebra Integrated Technologies Ltd Thursday informed the Bombay Stock Exchange (BSE) that it has cleared all its debts. The company, which was facing “tough times earlier”, had debts with State Bank of India and Canara Bank. It said it had cleared the debts in a one-time settlement.

Recently, Cerebra had made preferential placement of its equity with its vendor creditors and certain strategic investors.

The company’s share capital increased from Rs.59 million to Rs.92 million with investments by strategic investors and creditors with issue of shares and warrants at Rs.21. A single investment company had taken 14.5 percent stake in the company.

According to a communiqu

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