Cedaar Textile Limited Discloses Defaults on Loan Payments
Cedaar Textile Limited announced on April 1, 2026, that it has defaulted on payments of interest and principal on loans from banks and financial institutions. The disclosures, made as of March 31, 2026, detail obligations related to loans, revolving facilities, and unlisted debt securities.Loan Defaults from Banks and Financial Institutions
The company reported a default of Rs. 5.08 crore on loans including revolving facilities like cash credit from banks/financial institutions. HDFC Bank is identified as the lender. The current default amount comprises a principal of Rs. 2.57 crore and interest of Rs. 2.50 crore.
Details of the obligations are outlined below:
| Sr. No | Details |
|---|---|
| 1 | Total Amount Secured: Rs. 18 crore, Tenure: 70 monthly installments, Interest Rate: 8.57% p.a., Secured/Unsecured: Secured |
| 2 | Amount : Rs. 55 crore, Tenure: 74 monthly, Interest Rate: 8.58% p.a., Secured/Unsecured: Secured |
As of March 31, 2026, the total outstanding borrowings from banks/financial institutions amounted to Rs. 14.44 crore of Rs. 18 crore and Rs. 14.31 crore of Rs. 55 crore. The total financial indebtedness of Cedaar Textile Limited, including short-term and long-term debt, totals Rs. 106.70 crore.
Unlisted Debt Securities
The company reported no defaults related to unlisted debt securities, such as Non-Convertible Debentures (NCDs) and Non-Convertible Redeemable Preference Shares (NCRPS). The outstanding amount on these securities is not applicable.
Rajesh Mittal, Managing Director of Cedaar Textile Limited, disclosed the information.
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