Back
Corporate News
Electrotherm (India) defaulted on Rs 40 crore loan payments to Indian Bank, Punjab National Bank
30-Jul-2026, 09:32
Electrotherm (India) Limited disclosed a default on payment of interest and principal amounts on loans from banks and financial institutions, including Invent Assets Securitisation & Reconstruction Private Limited, an assignee of debts from Allahabad Bank (now Indian Bank) and Punjab National Bank. The default, reported on July 30, 2026, involves a principal amount of Rs 40.00 crore and interest of Rs 6.46 crore, both due as of June 30, 2026, related to a term loan and working capital loan with a total outstanding principal amount of Rs 180.00 crore. As of June 30, 2026, Electrotherm (India) Limited had total outstanding borrowings from banks and financial institutions of Rs 986.20 crore and total financial indebtedness of Rs 1,000.69 crore.
Electrotherm (India) Limited disclosed a default on payment of interest and principal amounts on loans from banks and financial institutions, including Invent Assets Securitisation & Reconstruction Private Limited, an assignee of debts from Allahabad Bank (now Indian Bank) and Punjab National Bank. The default, reported on July 30, 2026, involves a principal amount of Rs 40.00 crore and interest of Rs 6.46 crore, both due as of June 30, 2026, related to a term loan and working capital loan with a total outstanding principal amount of Rs 180.00 crore. As of June 30, 2026, Electrotherm (India) Limited had total outstanding borrowings from banks and financial institutions of Rs 986.20 crore and total financial indebtedness of Rs 1,000.69 crore.