Electrotherm Defaults on ₹28.68 Crore Loan Payments to Invent ARC
Electrotherm (India) Limited defaulted on ₹28.68 Crore in loan payments (₹24 Cr principal, ₹4.68 Cr interest) due March 31, 2026. The loans are from Invent Assets Securitisation & Reconstruction Private Limited. Total outstanding borrowings were ₹985.72 Crore, with total financial indebtedness at ₹1,000.21 Crore as of March 31, 2026.
A default on loan payments can severely impact the company's financial health, credit rating, and future borrowing capacity.
The company has disclosed a default on loan payments, which is a negative financial event.
Electrotherm (India) Limited has disclosed a default on the payment of interest and principal amounts for loans from banks and financial institutions. The default, which occurred on March 31, 2026, pertains to a Term Loan and Working Capital Loan provided by Invent Assets Securitisation & Reconstruction Private Limited, assignee of debts from Allahabad Bank (now Indian Bank) and Punjab National Bank.
The current default amount is ₹24.00 Crores in principal and ₹4.68 Crores in interest, totaling ₹28.68 Crores due as of March 31, 2026. The total principal amount of the obligation, as per the settlement with Invent ARC, is ₹180.00 Crores with a tenure of 11 years and an interest rate of 11% per annum, secured by the company.
As of March 31, 2026, the company's total outstanding borrowings from banks and financial institutions stood at ₹985.72 Crores. The total financial indebtedness, including short-term and long-term debt, was ₹1,000.21 Crores on a provisional basis.
The company noted that the default occurred because certain banks assigned their loans to Assets Reconstruction Companies (ARCs). Electrotherm has entered into a settlement with Invent ARC under specific terms and conditions. The outstanding amounts are subject to confirmation from the lenders. It was also mentioned that the total borrowings do not include interest from unsettled lender Rare Asset Reconstruction Limited (assignee of Indian Overseas Bank) which has classified the loan as Non-Performing Assets (NPA).
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Electrotherm (India) Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Electrotherm (India) Limited. Read the original for the full detail.