disclosure
Awaiting price reaction for this filing.
Interworld Digital has disclosed a default on repayment to banks/financial institutions for the quarter ending 31 December 2025. The total financial indebtedness of the company stands at Rs. 1.61 crore, of which Rs. 0.06 crore is in default on bank/financial institution loans. The default relates to the last installment of a vehicle loan from Kotak Mahindra Prime Limited, with an outstanding principal of Rs. 0.01 crore and Rs. 0.05 crore in unpaid interest and charges. The company explains that the vehicle financed by the loan is currently in the possession of its former Managing Director, Mr. Man Mohan Gupta, who allegedly fraudulently shifted the company's business and intellectual property to other entities he controls and is not cooperating in settling the dues.
The default is very small in absolute terms (Rs. 0.06 crore) relative to the company's total debt of Rs. 1.61 crore, so the immediate financial impact on shareholders is limited. However, the disclosure highlights governance issues and an ongoing dispute with a former MD, which could raise concerns about management credibility and internal controls.