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Last Updated : Sep 13, 2019 01:45 PM IST | Source: Moneycontrol.com

DHFL, Altico default on debt payments

Altico said in a regulatory filing that it has defaulted on interest payment of Rs 19.97 crore on a gross principal amount of Rs 340 crore

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Non-banking financial company Dewan Housing Finance (DHFL), on September 13 defaulted on its bond repayment obligation of Rs 196.65 crore along with another NBFC Altico. The latter defaulted on interest payment amounting to Rs 19.97 crore on its external commercial borrowings.

DHFL said in a regulatory filing that the default is towards principal and interest of non-convertible debentures (NCD) worth Rs 350 crore.

In a separate regulatory filing, Altico said, "With respect to payment of interest under the external commercial borrowing facility from Mashreqbank PSC, Altico Capital India defaulted on interest payment of Rs 19.97 crore on the gross principal amount of Rs 340 crore."

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The NBFC said its total borrowing from banks and financial institutions is Rs 4,361.55 crore as on September 12.

 

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First Published on Sep 13, 2019 12:50 pm
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