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.
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Prag Bosimi Synthetics Limited has disclosed a default on cumulative dividend payable on its Unsecured Redeemable Cumulative Preference Shares (RCPs). The default occurred on 31.03.2026, with the cumulative dividend in arrears amounting to Rs. 9.06 crore. The total preference share issue size was Rs. 15.77 crore, issued to promoters only, with a tenure of 20 years from 12.10.2016 and redemption due on 11.10.2037. The company states the default arose due to inadequate profits. Total financial indebtedness including short-term and long-term debt stands at Rs. 189.67 crore as of 31.03.2026.
This default on preference share dividends signals significant financial stress. With total indebtedness at Rs. 189.67 crore and only 2 investors (both promoters), the company faces liquidity challenges. The default beyond 30 days is a material credit event that investors should monitor closely.