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Shares of A2Z Infra Engineering rose as much as 4.9 percent to Rs 17.95.

“The infrastructure company had availed financial assistance as term loan from ICICI Bank and the lender has assigned all the rights, title and interests in the financial assistance granted by it to the Company, in favour of Edelweiss Asset Reconstruction Company Limited (the “Lender”), acting in its capacity as trustee of EARC Trust SC 217 vide Assignment Agreement executed in favour of EARC on June 29, 2016,” it said in a statement on the exchanges.

The company was in discussion with Edelweiss for One Time Settlement (OTS) and sent its proposal to Edelweiss. Edelweiss has accepted the Company’s proposal vide its acceptance letter dated March 14, 2019,” the statement added.

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