 "Jindal Steel defaults on debenture interest payments")
India's Jindal Steel and Power said on Wednesday it had not made interest payments due on some of its non-convertible debentures, underscoring the size of the debt-laden company's woes.
New Delhi-based Jindal Steel, headed by businessman Naveen Jindal, is one of the most heavily-indebted Indian firms with a net debt of about Rs 46,000 crore ($6.9 billion) at end-March.
In a filing on Wednesday, it listed 11 debentures on which interest was due on September 30 but had not been paid.
The company is working to sell more assets in India and abroad to cut its debt, its chief executive told Reuters in May after it agreed to sell a 1,000 megawatt power plant to JSW Energy , run by Naveen's brother Sajjan Jindal's group.
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