Mumbai, March 14 -- State Bank of India (SBI) has agreed to a one-time settlement (OTS) proposal from PC Jeweller to resolve their outstanding debt. The agreement includes a combination of cash payment, issuing shares (equity component), and releasing collateral that PC Jeweller had pledged for the loan.

Earlier this month, PC Jeweller received a show cause notice (SCN) from the Securities and Exchange Board of India (SEBI) for allegedly not properly disclosing information about their loans turning bad (NPA), ongoing legal cases, and debt resolution plans. The company claimed they have already been transparent in their quarterly reports and presentations, so the notice should not significantly impact them. They are exploring a settlement...