 "Infra firm HCC's total default to 14 creditors amounts to Rs 728.40 cr")
Infrastructure company Hindustan Construction Company (HCC) said on Saturday that its total default as of March stood at Rs 728.40 crore. This includes defaults on principal and interest payments.
Under a Securities and Exchange Board of India (Sebi)-mandated disclosure, HCC said the total default in loans, including revolving facilities such as cash credit from banks and financial institutions, as of March 2020 was at Rs 728.40 crore.
Of this, Rs 336.53 crore was on account of defaults related to principal repayment, another Rs 142.33 crore was related to defaults in interest payment and the remaining Rs 249.54 crore was other defaults, according to the company. The defaults involved 14 different lenders.
In its statement to BSE, the company said the total financial indebtedness of the listed entity, including short-term and long-term debt, amounted to Rs 10,427.59 crore.
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