HDIL promoters haven't paid interest on loan; share fall 12%

Realty firm Housing Development and Infrastructure Ltd (HDIL) today said its promoters have not paid interest on loan taken for their personal use.

The development comes after HDIL's share price fell by 12.23% to Rs 26.90 on BSE, a 52-week low.

"We are informed by the promoters that they have taken a mortgage loan against their property situated at Goa for their personal use and interest on the said loan was not paid. We are informed by promoters that they will be clearing the dues shortly and matter is being sorted out and resolved with the lenders," HDIL said in a filing to the BSE.

Promoters have 36.17% stake in the company as on June 30.

HDIL said the clarification is with respect to notice served on the promoters of the company under Securitisation and Reconstruction of Financial Assets and enforcement of Security Interest Act, 2002 with regard to their loan from Indiabulls Housing Finance Ltd.