Nature of Event: Vasavi's customer, M/s. S M Pharma (a partnership firm), has defaulted in payment of outstanding dues. The customer has defaulted on payment of invoices raised by Vasavi.
Amount Involved: The total default amount aggregates to INR 11.87 crore.
Event Description: Vasavi has received information indicating a risk to the recoverability of these outstanding dues from the customer.
Financial Impact: Vasavi has made a provision for the entire outstanding amount of INR 11.87 crore in its books of account. The maximum impact on the consolidated financial statements of Entero Healthcare Solutions Limited is quantified as INR 11.87 crore.
Steps Taken: Vasavi is initiating appropriate legal proceedings against the customer (M/s. S M Pharma) for recovery of the outstanding dues.
Regulatory Reference: This disclosure is made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.