Legal sources say that Mumbai-based GOL, now part of Bharati Shipyard, will pay nearly $7m to ICICI Bank Ltd to settle a short-term loan from last December following the proposed sale of its 350-feet Rig Somnath (Rig V-351).
Sources say GOL paid $45m it owed to Bank of New York and Mellon (BNY Mellon) using funds from domestic lenders.
Last month, Bombay High Court ordered GOL to settle its BNY Mellon debts.
According
