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Peninsula Land, a part of the Ashok Piramal Group, has defaulted on loan repayment to the State Bank of India. It was supposed to pay ₹2.35 crore (interest and principal) on November 30 on total principal amount of ₹177.72 crore (tenure: 143 months). The company said it has defaulted on loans, including revolving facilities such as cash credit, from banks and financial institutions. The total outstanding borrowings from banks/FIs (as on November 30, 2019) stood at ₹999.74 crore.
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