Electrotherm (India) Limited — Important, 17-10-2024: Defaults on Payment of Interest/Principal

Electrotherm (India) Limited disclosed a default on interest payment amounting to ₹5.69 crores due on a term loan and working capital loan from Rare Assets Reconstruction Limited, as of September 30, 2024. The company faces total outstanding borrowings of ₹1,569.51 crores and financial indebtedness of ₹1,584.00 crores. It has entered into settlements with banks and asset reconstruction companies to address outstanding debts.