Stocks

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

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor