Ventura Textiles has stated that the company’s offer for one-time settlement (OTS) of its dues with Stressed Assets Stabilization Fund (SASF) has been approved.

Having received the final acceptance of SASF, the company agreed to the terms and condition and made a part payment of the dues. The settlement amount is payable in interested - free installment and to be completed by 31 July 2006.

With this OTS, not only the interest burden of the company will come down and improve the profitability, upon full payment net worth of the company will also become positive. Consequently, the company will come out of BIFR.