There is not much clarity in this announcement. However, comfort letter is is not a legal document and it has no weightage with respect to financial obligation. (refer Geetanjali Gems Vs PNB bank case).
It is a clear loan against property of promotor. so, it is simply a cash needs of promoter but where will this cash be used is a question. if it is used for factory building construction or renovation purpose then it is a good development.
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