Indian companies default in $ 1.20 billion bonds in current year

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Mumbai, Ta. October 24, 2019, Thursday

In the current year, Indian companies have defaulted on $ 1.5 billion in bonds as a result of liquidity pulls created by non-banking financial companies (NBFCs) in the country following the IL&FS Chapter, and the situation is not yet known.

According to the filings made by these companies, companies that failed to pay their debt instruments or failed to repay their defaulters, have to pay a total amount of $ 2 billion in debt instruments and loans, including default securities.

In the 4th, the IL&FS group lost funds to the borrower due to a collapse, which led to an increase in corporate defaults.

In the June quarter, the country's economic growth rate fell to five-year low with a five-year low. Companies are also hit by the slowdown in economic growth.

Companies that have failed to pay their debt instruments include Reliance Capital, Dewan Housing, etc.


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