The company is in discussion with its bankers for restructure of its debt obligations, company said in the release.
Share price of Talwalkars Healthclubs touched its 52-week low of Rs 4.48, falling nearly 5 percent intraday on October 9 after the company defaulted on payment of interest and principal amount.
The company has defaulted on interest payment worth Rs 2.38 crore and principal of Rs 25 crore of loan taken from Lakshmi Vilas Bank.
The company's total amount of borrowings from banks/financial institutions stood at Rs 463.15 crore.
Talwalkars is in discussion with its bankers for restructuring its debt obligations, the company said in the release.At 0952 hrs, Talwalkars Healthclubs was quoting at Rs 4.48, down Rs 0.23, or 4.88 percent on the BSE.