Disclosure of defaults by the Company on payment of interest/repayment of principal on loans from banks/financial institutions
ASIANHOTNR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 3.5 pts less than Nifty Microcap 250 and 3.8 pts less than its Hotels & Resorts peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Asian Hotels (North) Limited has disclosed a default on a secured term loan originally from DBS Bank, now held by Star Strength, with the default dating back to April 8, 2025. The total default amount is INR 333.81 crore (USD 38.85 million), split between INR 250.79 crore in principal and INR 83.02 crore in unpaid interest. As of June 30, 2025, the default has risen to INR 339.32 crore against total bank/financial institution borrowings of INR 435.55 crore. The company's total financial indebtedness stands at INR 671.38 crore as of June 30, 2025, meaning roughly half of all borrowings are in default. The loan carried a floating interest rate of 9.0083% and was originally scheduled to run until March 31, 2030.
This is a major red flag for shareholders — a default of this size (over half of bank borrowings) signals deep financial stress, could trigger lender recovery actions, and is very likely to weigh heavily on the stock price and trigger credit rating downgrades.