Date:07/05/2004 URL: http://www.thehindubusinessline.com/2004/05/07/stories/2004050702070200.htm

Back FIs assign security interest in Pennar

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HYDERABAD: Pennar Aluminium Company Ltd (Palco) has informed the stock exchanges that the Asset Reconstruction Company (India) Ltd (ARCIL) has informed the company that under Section 5 of Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002, Industrial Development Bank of India (IDBI), ICICI Bank Ltd (ICICI) and SBI have assigned their security interest in respect of the financial assistance granted by them to it favour of ARCIL.