Cox & Kings hits fresh low after fourth default in three weeks

The firm said it has also failed to pay the interest of over Rs 41 lakh on secured redeemable non-convertible debentures worth Rs 50 crore in timely manner

Shares of Cox & Kings were locked in lower circuit of 5 per cent at Rs 19, also its new low on the BSE on Wednesday, after the company defaulted on its repayment obligations on commercial papers worth Rs 45 crore on Tuesday. This is Cox & Kings' fourth default in three weeks. 

In a filing to the BSE, the travels and tour operator said it has also failed to pay the interest of over Rs 41 lakh on secured redeemable non-convertible debentures worth Rs 50 crore in timely manner. These NCDs carried a tenure of 24 months at a