Nazara Applied sciences on Wednesday stated that out of Rs 64 crore held by its two step down subsidiaries in Silicon Valley Financial institution, Rs 60 crore has been efficiently transferred to financial Institution Accounts Outdoors of SVB.

The steadiness Rs 4 crore stays in SVB accounts for unrestricted operational use, the corporate stated in a regulatory submitting.

Nazara knowledgeable that each the businesses — Kiddopia Inc and Mediawrkz Inc — have been given unrestricted entry to your entire quantity of USD 7.75 million (Rs 64 crore) that was held at SVB.

“From this quantity, a sum of USD 7.25 million (Rs 60 crore) has been transferred to Financial Institution Accounts outdoors of SVB and the steadiness quantity of USD 0.5 million (Rs 4 crore) stays in SVB accounts for unrestricted operational use,” the corporate stated.

Learn all of the Newest Enterprise Information right here

(This story has not been edited by News18 employees and is revealed from a syndicated information company feed)