Suzlon, Jaypee Infra, others disclose default as Sebi tightens norms

Suzlon, Jaypee Infratech, Hindustan Construction Co (HCC), Reliance Naval and Engineering, Gayatri Projects and many other companies on Tuesday disclosed their defaults in their regulatory filings to stock exchanges.

The disclosures were made after a November 2019 Securities and Exchange Board of India’s directive asking companies to disclose defaults of 30 days and above.

Suzlon Energy said the company's current default amount stood at Rs 7256 crore. The disclosure added the date of default was March 2019. Of this, Rs 538 crore was due as interest, while the remaining was a default on principal amount payable. The company in its disclosure pegged its total financial indebtedness at Rs 14048 crore.

Jaypee Infratech's current default stood at Rs 6,721 crore, while its total debt was Rs 13,438 crore. The disclosure added the company was declared a non performing asset in September 2015.

HCC has defaulted on a payment of Rs 277 crore while its total debt was Rs 10,390 crore.