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DIAL misses interest payment for third month

4-Aug-2011 11:57 AM

Delhi International Airport Ltd (DIAL) has postponed another interest repayment, taking the outstanding interesting repayments to INR1.6 billion (USD36 million) (Financial Express, 03-Aug-2011). The airport has not paid interest in the past three months on loans taken out to fund the airport’s upgrade. If repayments are delayed further, lenders led by Canara Bank who had given the loan will have to classify the loan, which was extended to DIAL’s parent GMR, as a non-performing asset under Reserve Bank of India guidelines.