The balance Rs 4 crore remains in SVB accounts for unrestricted operational use, Nazara said. (File)
New Delhi:
Nazara Technologies today said that out of Rs 64 crore held by its two-step down subsidiaries in Silicon Valley Bank, Rs 60 crore has been successfully transferred to bank accounts outsideSVB.
The balance Rs 4 crore remains in SVB accounts for unrestricted operational use, the company said in a regulatory filing.
Nazara informed that both the companies — Kiddopia Inc and Mediawrkz Inc — have been given unrestricted access to the entire amount of USD 7.75 million (Rs 64 crore) that was held at SVB.
“From this amount, a sum of USD 7.25 million (Rs 60 crore) has been transferred to bank accounts outside of SVB and the balance amount of USD 0.5 million (Rs 4 crore) remains in SVB accounts for unrestricted operational use,” the company said.
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