Loading
4-Aug-2011 11:57 AM

DIAL misses interest payment for third month

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.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More