Hotel Leela defaults on payment of quarterly interest to LIC
Updated : September 20, 2018 11:11 AM IST
Hotel Leelaventure said its operating cash flows are not sufficient to service its term loans and NCDs and the funds of the company are escrowed with its lenders and are also monitored by the lenders.
Hotel Leelaventure said the total interest outstanding as on date is Rs 13.80 crore and principal redemption amount outstanding as on date is Rs 45 crore.
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