Now Ansal Housing defaults in repayment of Rs 170 cr to this entity

New Delhi: Ansal Housing Ltd has defaulted big time in repayment to Indiabulls Commercial Credit Ltd (ICCL). The real estate company has defaulted in repayment of Rs 170.88 crore to ICCL in February 2020.

Ansal Housing Ltd defaulted in 23 February 2020 to the tune of Rs 149.85 crore towards principal and another Rs 21.03 crore towards interest to ICCL.

The realty player had taken a loan of Rs 149.85 crore at 10.95 percent interest from ICCL on a secured basis. Interestingly, ICCL had recalled the entire loan from Ansal Housing after sanctioning the same. 

Ansal Housing could not repay on 23 February. The repayment fell due in March, April and May 2020 again but since the Reserve Bank of India has issued a moratorium on repayment of loans in the country, Ansal Housing cannot be said to have defaulted in March, April and May 2020.

Ansal Housing has been defaulting in repayment of loans to various banks and financial intuitions for quite some time now.

Ansal Housing’s total money outstanding as borrowings from banks and financial institutions as on 22 May 2020 was Rs 513.07 crore. Its total financial indebtedness, including short-term and long-term debt, is Rs 701.23 crore as on 22 May 2020, as per a regulatory filing by Ansal Housing.