Ansal Housing defaults in repayments to Indiabulls Commercial Credit, IFCI Ltd, others yet again
New Delhi: Faced with multiple hurdles and falling sales, Ansal Housing Ltd has again defaulted in repayments to various lenders including Indiabulls Commercial Credit Ltd and IFCI Ltd.
The beleaguered realty firm defaulted in repayments to Indiabulls Commercial Credit Ltd on 23 February 2020 to the tune of Rs 149.85 crore towards principal and Rs 21.03 crore towards interest. Ansal Housing Ltd made defaults of the same amounts to Indiabulls Commercial Credit Ltd again on 22 May 2020. Ansal Housing had taken the loan at 10.95 percent interest but the entire loan was recalled by the lender after sanctioning but the realty firm has not been able to repay.
Ansal Housing also defaulted in repayments to IFCI Ltd to the tune of Rs 8.11 crore towards principal and Rs 11.58 crore towards interest on 15 march 2020. The realty estate player has taken a term loan of Rs 100 crore from IFCI at 14 percent interest.
Ansal Housing also defaulted in repayment to NBFCs like Rovo Marketing Pvt Ltd, Narinder Singh and Sons Pvt Ltd and Trinidhi Finance Pvt Ltd on 29 February 2020.
Ansal Housing’s total amount of outstanding borrowings from banks and financial institutions is Rs 512.12 crore as per the latest filing by the company to the stock exchanges. The total financial indebtedness of the company, including short-term and long-term debt, is Rs 709.98 crore as per the latest filing by the company to the stock exchanges.