NEW DELHI: Shares of real estate development company HDIL slipped over 2 per cent on Friday after Union Bank of India said the realty firm has defaulted on Rs 143 crore loan settlement, ETNOW reported.
The lender has re-filed insolvency plea against HDIL as the settlement failed.
In an interaction with CNBC TV18, the company's management clarified it had approached Union Bank of India for an extension on loan payment.
Andhra Bank payment has been entirely made, the management said.According to a report by Livemint last month, Andhra Bank, one of the lenders to the company, had withdrawn its insolvency case after the BSE-listed realty company agreed to pay Rs 40 crore in a one-time-settlement agreement.
HDIL, which at one point of time was the third-largest Indian real estate firm by market value, is facing several litigations from lenders.
Another public sector bank, Jammu Kashmir Bank, has also filed an insolvency petition against HDIL in National Company Law Tribunal (NCLT), the report had said.
According to Bloomberg data, in FY 2018, the company had a total debt of Rs 2,270 crore and had reported a profit of Rs 95 crore, while in the year ago period the company had total debt of Rs 2,524 crore and had posted a profit of Rs 179 crore.At 12:54 pm, shares of the company were trading at Rs 24.60 apiece on BSE, down 0.40 per cent.