Dear Sir,

SEBI has issued a circular no. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21, 2019
which mandates every listed Company to disclose any default on payment of interest/ repayment of
principal amount on loans (including revolving facilities like cash credit) from banks / financial
institutions to the Stock Exchanges where securities of the Company are listed. The said SEBI
Circular is attached for your ready reference.
‘Default’ as stated above shall mean non-payment of the interest or principal amount in full on the
date when the debt has become due and payable (‘pre-agreed payment date’).

For revolving facilities like cash credit, ‘default’ would be committed if the outstanding balance
remains continuously in excess of the sanctioned limit or drawing power, whichever is lower, for
more than 30 days.

In order to ensure compliance with the SEBI Regulations and the abovementioned Circular, you are
requested to provide the details of default (if any) as per formats below OR provide a confirmation
that there is no default in payment of interest/ repayment of principal amount on loans from
bank/financial institutions.
a) For each event of default, the disclosure shall be made in the following format (on occurrence
of any default after 1st January, 2020) promptly to the Stock Exchange, but not later than 24
hours from the 30th day of such default:
Sl. Type of disclosure Details
1. Name of the Listed entity
2. Date of making the disclosure
3. Nature of obligation
4. Name of the Lender(s)
5. Date of default
Current default amount (break-up of principal and interest
6.
in INR crore)
Details of the obligation (total principal amount in INR
7.
crore, tenure, interest rate, secured / unsecured etc.)
Total amount of outstanding borrowings from Banks /
8.
financial institutions (in INR crore)
Total financial indebtedness of the listed entity including
9.
short-term and long-term debt (in INR crore)

b) Quarterly disclosure is required to be made within 7 days from the end of the quarter in the
following format, if there is any loan including revolving facilities like cash credit from banks
/ financial institutions where the default continues beyond 30 days:
Sl. Particulars In INR crore
1. Loans / revolving facilities like cash credit from banks / financial institutions

A. Total amount outstanding as on date

B. Of the total amount outstanding, amount of default as on date

2. Unlisted debt securities i.e. NCDs and NCRPS

A. Total amount outstanding as on date

B. Of the total amount outstanding, amount of default as on date

Total financial indebtedness of the listed entity including
3.
short-term and long-term debt

You are requested to provide the details/ confirmation in respect of point (b) above by 6th January,
2020 in order to enable us to do the necessary compliance.