Default likely to drag Sumeet Industries

| Updated on January 21, 2020

Sumeet Industries on Tuesday said it has total financial indebtedness of the listed entity including short- and long-term debt of ₹534.23 crore.

Of the total ₹530.95 crore outstanding for the quarter ended December 2019, default as on date stands at ₹523.03 crore, it said. Its loan accounts have been classified as non-performing assets by the consortium of banks, it said. Shares of Sumeet Industries may come under pressure following default disclosure.

Published on January 21, 2020

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