PC Jeweller Completes Debt Clearance Formalities, Secures Release of Mortgaged Assets

The company confirmed that the original title deeds of the mortgaged properties have been returned to their respective holders.

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PC Jeweller Completes Debt Clearance Formalities, Secures Release of Mortgaged Assets

The development follows an earlier disclosure in which PC Jeweller stated that it had received No Objection cum No Dues cum Release Letters from all 14 banks in its lending consortium.

According to the exchange filing, all charges, securities, personal and corporate guarantees, and undertakings provided by the company and its guarantors have also been fully released.

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With these developments, PC Jeweller said all necessary formalities associated with clearing its outstanding debt have been completed.

The announcement marks the formal conclusion of the company’s debt clearance process with its consortium lenders. The release of pledged assets and guarantees also removes the associated security obligations.