RCom, HCC, Tilaknagar Ind disclose loan defaults to exchanges

A slew of financially stressed companies, including Reliance Communications, infra company HCC and liquor maker Tilaknagar Industries, on Tuesday disclosed their loan defaults to exchanges.

The moves were necessitated because markets regulator Sebi had mandated listed companies to disclose their defaults within 30 days and Tuesday was the deadline for making the disclosure for what can be termed as 'legacy defaulters'.

Businessman Anil Ambani's Reliance Communications disclosed an indebtedness of over Rs 32,500 crore, excluding an interest of Rs 6,840 crore on bank loans and Rs 1,155 crore on non-convertible debentures, it said in a disclosure to the BSE.

It also said it is currently undergoing bankruptcy proceedings at the National Company Law Tribunal.

The Ajit Gulabchand-led HCC, which has built a slew of marquee projects including the Bandra Kurla Sea Link, disclosed a total outstanding of Rs 675 crore, according to filings.

Tilaknagar Industries' total financial indebtedness stood at Rs 1,309 crore, according to a filing to the BSE.

The Sebi board had in November decided to make such disclosures mandatory with a view to increase the transparency in the markets and as a measure of good corporate governance.