Coastal Corporation Limited Clarifies Repayment Dates Amid Banking Record Discrepancies
Coastal Corporation Limited has received clarification from its banker, DBS Bank India Limited, addressing discrepancies in repayment dates reflected in banking records concerning various facilities. The bank confirmed that while the scheduled repayment dates sometimes differed due to internal processing mechanisms, the Company had duly made all requisite funds available for these obligations.The communication from the bank noted that some entries in the bank records were subject to subsequent day manual processing by the bank and facility level system related to MTM/FCY movements and Working Capital limit utilization. The banker confirmed that despite these banking processes, the account conduct remains satisfactory, with no stress observed toward repayment obligations for the borrower as of the date of communication.
Details regarding specific loan repayments and the associated dates are provided below:
| Repayment Date | Period Covered | Recovery Type | Key Banking Note |
|---|---|---|---|
| May 31, 2025 | Interest Recovery | Cash Credit/Overdraft account | Effected on the last working day of the month. No delay observed from the borrower side. |
| December 01, 2025 | EMI Recovery | Two loan accounts | Completed manually by the bank on a subsequent working day. No delay observed from the borrower side. |
| March 02, 2026 | EMI Recovery | Two loan accounts | Completed manually by the bank on a subsequent working day. No delay observed from the borrower side. |
| April 08, 2026 | EMI Recovery | Two loan accounts (March recovery) | Funds were available in the Cash Credit/Overdraft account but the recovery delayed due to MTM/FCY movements and exceeding Working Capital limits, requiring subsequent fund remittance to complete the partial amount. |
| May 07, 2026 | EMI Recovery | Two loan accounts (April recovery) | Similar delay due to MTM/FCY movements and facility level exceeding of overall Working Capital limits, necessitating additional funds for completion. |
The bank noted that the repayment schedule clarification pertains to specific events regarding the repayment dates reflected in banking records, reaffirming that the Company maintained the requisite funds towards its scheduled payment obligations within applicable timelines.
COASTCORP Stock Price Movement
Shares of Coastal Corporation Limited slipped by 2.75% on Friday, settling at ₹43.33 after closing below the previous day’s price. The equity traded within a range of ₹37.02 to ₹44.99 and saw a volume of 731,781 shares recorded during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.