 "real estate, flats")
Peninsula Land Ltd, a real estate company promoted by Ashok Piramal Group, has defaulted on repayment of a loan from the State Bank of India (SBI).
The default of Rs 2.35 crore happened on November 30, 2019 on term loan of Rs 177.7 crore. The default is on payment of interest and principal component of the loan. The rate of interest is 9.95 per cent, according to company's filing with exchanges
The company's total outstanding borrowings from banks/financial institutions stood at Rs 999.7 crore as on September 30, 2019.
The company said the total financial indebtedness of the listed entity including short-term and
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