Waterbase announced that the management has considered and accepted the One Time Settlement (OTS) approval received from Canara Bank for settling all the outstanding dues. As per the terms of the OTS, the company shall settle the dues to Canara Bank by paying Rs 78 million, which includes interest.

Towards this settlement, the company has made an initial payment of Rs 40 million on Nov. 18, 2015.

The balance amount will be settled by the company within the time frame granted by Canara Bank under the OTS which is within Dec. 09, 2015.

Shares of the company gained Rs 1.3, or 1.07%, to trade at Rs 123.00. The total volume of shares traded was 30,829 at the BSE (9.40 a.m., Thursday).