Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount for loans including revolving facilities like cash credit from banks ....
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Olympic Cards Ltd has disclosed a default on a term loan from HDFC Bank Ltd. The default occurred on July 24, 2025, and involves a total overdue amount of Rs. 15.17 lakh, comprising Rs. 11.51 lakh in principal and Rs. 3.66 lakh in interest. The original term loan was Rs. 15.5 crore over 120 months at 11.05% interest rate, secured. HDFC Bank's total outstanding from the company stands at Rs. 4.22 crore, and the company's total borrowings from banks and financial institutions are Rs. 12.48 crore. The company's overall financial indebtedness, including unsecured debt, is Rs. 25.71 crore as of June 30, 2025.
This default is a negative signal for shareholders — it indicates financial stress and could lead to the loan being classified as a non-performing asset (NPA) by the bank, potentially triggering higher borrowing costs and restricted access to future credit.