Will use $9.4 mn ECB funding for expansion: Jugal Kataria, Satin Creditcare
  • WebDesk BTVI
  • Jul 29 2019

Jugal Kataria, CFO at Satin Creditcare, says the $9.4 mn ECB funding will be used for expansion plans of the company. He says promoters' stake in the company has gone up due to warrants issued to them earlier while promoter pledge has reduced to 20.80% from 52.88% in the last six months. He says the current cash flow situation is comfortable, collection efficiency stands at 99.5%. On ban on subvention scheme, he says the firm was not hit as it’s not doing any developer funding.