Disclosure of default by the Company on payment of interest/repayment of principal on loans from Sammaan Capital Limited
ASIANHOTNR · price
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Asian Hotels (North) Limited has disclosed a default on a secured term loan from Sammaan Capital Limited, with the default occurring on June 20, 2025. The unpaid principal stands at ₹95.77 crore, with additional accrued interest of ₹2.28 crore, taking the total default to approximately ₹98.05 crore. The original loan was for a 6-month tenure at 12% per annum interest. A broader disclosure (C2 format) indicates that as of June 30, 2025, the company's total bank and financial institution borrowings of ₹677.12 crore were entirely in default. The company's total financial indebtedness is reported at ₹707.89 crore as on September 25, 2025.
This is a severely negative development. The company has defaulted on virtually all its bank borrowings (₹677 crore), indicating deep financial distress. Shareholders should expect further credit rating downgrades, potential coercive recovery actions by lenders including asset seizure, and significant risk of equity dilution through debt restructuring or conversion. Stock price is likely to remain under heavy pressure.