Staff Reporter

KOCHI: A meeting to thrash out the one-time settlement of dues to banks as part of the process for revival of Travancore Rayons, Perumbavoor, will be held on January 24.

The meeting is being convened by Chief Minister Oommen Chandy in Thiruvananthapuram. Representatives of Indian Bank, State Bank of Travancore, Bank of India and Canara Bank are expected to take part in the discussions. N. Damodaran of NDEE Group, the promoter, will also take part in the talks.

The promoter will have to settle the dues, according to the agreement arrived at earlier with the Government.

The banks had agreed for a one-time settlement in talks held previously, according to P.V. Sukumaran, convener of the Rayons Protection Committee. UDF convener P.P. Thankachan, Saju Paul, MLA; and Rayons Protection Committee representatives had met the Chief Minister last week in this regard, he said.