Disclosure of defaults on payment of interest/repayment of principal on loans from banks/financial institutions and unlisted debt securities
ASIANHOTNR · price
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Asian Hotels (North) Limited has disclosed a default on a term loan of INR 235 crore principal plus INR 3.41 crore interest (total INR 238.41 crore) owed to Ambitious Cement Private Limited, with the default date being May 15, 2025. The loan carried a 12% per annum interest rate and was a secured obligation. As of June 30, 2025, the total outstanding loan amount has grown to INR 435.55 crore, with the cumulative default ballooning to INR 580.90 crore. The company's total financial indebtedness stands at roughly INR 671 crore, indicating a very high debt burden relative to its capacity. This is a serious red flag showing the company has not been able to service its debt obligations and the situation is worsening.
This disclosure is a major negative signal for shareholders. The sharply rising default amount (from 238 crore to nearly 581 crore in just over a month) suggests severe liquidity stress and raises the risk of legal action, asset seizure, or even insolvency proceedings. The stock is likely to face selling pressure and is a high-risk holding.