Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount for unlisted debt securities i.e. NCDs and NCRPS
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Harish Textile Engineers has failed to pay Rs. 3,65,070 in interest that was due on 7th April 2026 for its 7% Unlisted, Secured, Unrated NCDs (Series III & IV). This is the latest in a series of defaults - the company already defaulted on principal redemption of Rs. 2.1151 Crores (Series III Rs. 0.6472 Crore due October 2025, Series IV Rs. 1.4679 Crore due December 2025). Total interest due for October 2025 to March 2026 was Rs. 7,38,253, of which only Rs. 3,73,183 was paid for the first half. The company cites ongoing financial constraints as the reason for the delays. There are 20 investors holding 217,819 NCDs worth Rs. 4.232 Crores originally. The company's total financial indebtedness stands at Rs. 30.25 Crores.
This is a significant credit event. The company has now defaulted on both principal redemption and interest payments, indicating serious financial distress. Shareholders should be concerned as the company may face legal action from debenture holders and potential insolvency proceedings.