Ansal Housing Defaults Big Time In Repayment To Banks, Financial Institutions
New Delhi: Ansal Housing Ltd has been defaulting in repayment of various loans taken from a number of banks and financial institutions and now has large sums of money as default.
Ansal Housing defaulted in repayment to IFCI ltd to the tune for Rs 5.11 crore as principal and Rs 9.36 crore as interest on 15 December 2019.
Ansal Housing also defaulted in repayment of Rs 149.85 crore as principal amount and Rs 18.29 crore as interest to Indiabulls Commercial Credit Ltd on 23 December 2019.
The company also defaulted in repayment of Rs 0.72 crore as interest to UCO Bank on 31 December 2019.
The company had total defaults of Rs 315.63 crore as on 31 December 2019.
The company defaulted in repayment of Rs 16.16 crore to IFCI ltd on 15 January 2020. Ansal Hosuing had taken a loan of Rs 100 crore in September 2014 at an interest of 14 percent per annum. Rs 10.05 crore was the interest default of 14 February and Rs 6.11 crore was the default in principal repayment on that date.
The realty firm defaulted in repayment of Rs 149.85 crore as principal amount and Rs 19.71 crore as interest to Indiabulls Commercial Credit Ltd on 23 January, according to information given by the company to Bombay Stock Exchange.
On 31 January, Ansal Hosing defaulted in repayment of Rs 0.46 crore to Canara bank as repyement of interest on an overdraft availed from the bank. It also defaulted in repayment of Rs 136.36 crore as principal and Rs 22.40 crore in interest repayment to Suraksha Asset Reconstruction Ltd on the same date.. Ansal Housing defaulted in repayment of Rs 0.04 crore to ROVO Marketing Pvt Ltd on 31 Janaury and another Rs 0.04 crore to Narinder Singh and Sons Pvt Ltd on 31 January.
Total amount of outstanding borrowings from Banks and financial institutions was Rs 519.51 crore as on 29 February 2020 and the total financial indebtedness of the company including short-term and long-term debt was Rs 708.68 crore on that date.
The company suffered a net loss of Rs 10.24 crore in the third quarter of the current fiscal as compared to net loss of Rs 5.62 crore in the corresponding period of the previous fiscal.
The total income of the company dripped to Rs 35 crore in the third quarter of the current fiscal as against Rs 51.61 crore in the same quarter of the previous financial year.