Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusiness

Suzlon Energy defaults on Rs 7,256.38 crore worth of loans

The release also noted that the total amount of outstanding borrowings from banks and financial institutions was Rs 12,785.17 crore.

January 07, 2020 / 09:15 PM IST
Suzlon

Suzlon

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Suzlon Energy, on January 7, stated that it defaulted on loans worth Rs 7,256.38 crore that was to be repaid on March 19, 2019.

According to a release by the exchanges, the loans were given by a consortium of 18 banks led by the State Bank of India and Indian Renewable Energy Development Agency (IREDA).

The release noted that the nature of the loans lent to the company included fund-based working capital, non-fund based working capital, term loans and standby letter of credit.

The release also noted that the total amount of outstanding borrowings from banks and financial institutions was Rs 12,785.17 crore.

The total financial indebtedness of the company, included short-term and long-term debt, stood at Rs 14,048.28 crore.

Moneycontrol News
first published: Jan 7, 2020 09:15 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347