Default of Rs. 90.22 Crores principal on project funding loan disclosed
The company has disclosed a payment default on a project funding loan.
- Default Amount (Principal)
- Rs. 90.22 Crores
- Default Date
- 31st August, 2026
- Original Facility Amount
- Rs. 169.00 Crore
- Total Financial Indebtedness
- Rs. 213.43 Crore
- Interest Rate on Loan
- 14% p.a.
What was shared
The company informed BSE of a default on payment of principal on a loan from a financial institution, in the format prescribed by SEBI for defaults that remain unpaid beyond 30 days.
Details of the default
- Nature of obligation: Project Funding
- Lender: Suraksha Asset Reconstruction Private Limited, acting as Trustee of Suraksha ARC-034 Trust
- Date of default: 31st August, 2026
- Current default amount: principal Rs. 90.22 Crores; interest Nil
The underlying facility
- Total principal of the obligation: Rs. 169.00 Crore
- Tenure: repayment in monthly instalments till 31st December, 2026
- Rate of interest: 14% p.a.
- Status: Secured
Overall debt position
- Total outstanding borrowings from banks / financial institutions: Rs. 195.77 Crore
- Total financial indebtedness including short-term and long-term debt: Rs. 213.43 Crore
How to read this
A default means a scheduled repayment was not made on its due date. Here the shortfall is on the principal portion, with interest shown as Nil. The defaulted principal of Rs. 90.22 Crores is a large part of the company's total indebtedness of Rs. 213.43 Crore, and the loan is secured, meaning the lender has recourse to charged assets.
The loan is already with an asset reconstruction company, which typically indicates the exposure was earlier transferred from a bank or lender. Investors generally read such disclosures as a sign of liquidity strain, and may watch for any restructuring, settlement or recovery action by the lender, as well as the remaining instalments due till 31st December, 2026.
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More numbers
- Current default amount - principalRs. 90.22 Crores
- Current default amount - interestNil
- Total principal of project funding obligationRs. 169.00 Crore
- Rate of interest14% p.a.
- Total outstanding borrowings from banks/FIsRs. 195.77 Crore
- Total financial indebtednessRs. 213.43 Crore
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