The Supreme Court has restored mutual fund units worth Rs 344 crore to Dalmia Bharat's account. The funds were frozen at clearing agent IL&FS Securities. The mutual fund has been fraudulently transferred by allied financial services and used as collateral for Futures & Options (F&O) trading. Now with that getting resolved the units are getting transferred back to Dalmia Bharat.

In an interview to CNBC-TV18, Puneet Dalmia, managing director (MD) of the company said that post SC order, the MF units are likely to come back to the company's accounts in the next 1 month.

“The Supreme Court has said that this matter should be resolved within next one month and it has to be resolved expeditiously. So the outer limit for the transfer of securities back to our account is one month,” Dalmia mentioned.

He added that the company can now freely use mutual fund proceeds worth Rs 350 crore. He also believes the company will be debt free in the next one year.

“Our gross debt number is approximately Rs 4,000 crore but our net debt number is around Rs 1,500 crore odd. However, going forward our free cash is upwards of Rs 2,000 crore every year. So there are some capex which are lined up. Therefore, if I look at the current operations, we will be debt free in the next one year,” he noted.

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(Edited by : Pranati Deva)