Debt-laden Jindal Steel & Power has failed to make payments towards the interest due on 11 non-convertible debentures it has, the due date of which was September 30, the company said in a BSE notification.
Of the 11 non-convertible debentures, most were carrying a coupon rate of 9.80 percent, said the notification.
The company refrained from commenting on the same at the moment.
The Delhi-based steel producer with consolidated net debt of Rs 44,000 crore as on March 31, 2016 has been struggling with diminishing operating profits for quite sometime now.
In the quarter ended June, the company's loss doubled to Rs 1,082 crore as against Rs 542 crore in the corresponding period last year.
Jindal Steel is one of the major primary steel producers in the country with a significant presence in power generation as well.
