Pyramid Saimira MD held, released in case


However, the company claimed that Saminathan was let out shortly after.“The misunderstanding has been sorted out and both the parties have agreed to an amicable settlement,” Pyramid Saimira said in a statement.

According to Pyramid Saimira, the company had taken a loan of Rs 60 crore from Indiabulls, out of which more than Rs 40 crore had been repaid.

“There has been a misunderstanding on the terms of settlement between Indiabulls and Saimira Holdings and Services Pvt Ltd, a promoter company which has taken loans from Indiabulls ,” Pyramid Saimira Chairman N Narayanan said in the statement.

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