Jain Irrigation’s Netherlands subsidiary changes place of business and address

The company also updated about governance changes in Jain Irrigation Trading BV and note holder discussions.

Jul 28, 2020 12:07 IST India Infoline News Service

Jain Irrigation Systems Limited (JISL) informed the exchanges Tuesday that its wholly-owned subsidiary Jain Irrigation Trading BV in Netherlands has changed place of business and address to Regal House, 70 London Road Twickenham, Middlesex TW13QS United Kingdom.

JISL has honourably retired Athos Business Services (Asia) B.V. and its affiliated appointee as directors of Jain Irrigation Trading BV. The subsidiary has appointed Paul Lawlor as permanent representative in respect of its establishment in the United Kingdom. Anil B Jain and JISL will remain on the Jain International Trading BV's board as directors.

With reference to 7.125% Senior Notes due 2022 (Notes), although the Group has sufficient cash on hand to discharge the interest payment obligations on the Notes that were due on February 3 and August 3, 2020, the Group today announced that it has elected to defer the making of such interest payment on the Notes as the utilisation of cash its subject to ongoing constructive discussions with certain of its working capital lenders in India, the company said in the press note.

Jain Irrigation Systems Ltd is currently trading at Rs10.57 up by Rs0.05 or 0.48% from its previous closing of Rs10.52 on the BSE.

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