Default6 Jul 2026, 05:10 pm
Interworld Digital Defaults on ₹0.06 Cr Loan Payment
AI Summary
Interworld Digital Ltd reported a default on a loan payment for the quarter ending June 30, 2026. The company defaulted on the last installment of a 'Loan against Vehicle' from Kotak Mahindra Prime Limited, amounting to ₹0.01 Crores. The total outstanding loan amount is ₹0.06 Crores. The default is attributed to the vehicle being in possession of the former Managing Director, Mr. Man Mohan Gupta, who allegedly fraudulently shifted business assets. The company has been unable to recover the vehicle or settle the debt due to non-cooperation from the former MD. Total financial indebtedness stands at ₹2.21 Crores.
Key Highlights
- Default on ₹0.06 Cr loan payment for quarter ending June 30, 2026.
- Loan is for a vehicle from Kotak Mahindra Prime Limited.
- Vehicle possession by former MD cited as reason for default.
- Total financial indebtedness reported at ₹2.21 Crores.
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