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Rs 280.68 cr loan default as on Sep 30: Coffee Day's Sical Logistics

Tamil Nadu,Business/Economy

Author : Indo Asian News Service

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Chennai, Nov 22 (IANS) Integrated logistics provider and part of the Coffee Day group, Sical Logistics, on Sunday said it has defaulted a sum of Rs 280.68 crore of loans taken from banks and financial institutions and interest on that.

In a regulatory filing, the city-based Sical Logistics said its total outstanding -short and long term borrowings - as on September 30, stands at Rs 913.87 crore.

Out of that, the amount of default as on date stands at Rs 280.68 crore.

According to Sical Logistics, the default amount mentioned above is excluding loan recalled amount of Rs 241.48 crore, due to non-compliance of certain covenants of the loan agreement.

--IANS

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