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 its mortgage loan from Religare Finvest Ltd. The default occurred on 18 June 2025, with a total overdue amount of Rs 7.46 lakh, comprising Rs 5.82 lakh in principal and Rs 1.64 lakh in interest. The original loan was Rs 5.05 crore at 14.50% interest, secured, with a 120-month tenure, and Rs 1.36 crore is still outstanding to Religare. The company's total borrowings from banks and financial institutions stand at Rs 12.55 crore, while its overall financial indebtedness is Rs 12.82 crore as of 31 March 2025.
This default signals financial stress at Olympic Cards and may raise concerns about the company's ability to service its debts, potentially affecting creditworthiness and investor confidence in the stock.