Radhagobind Commercial Limited Reports Rs 1.12 Crore Loan Default in Q1 Filing
Radhagobind Commercial disclosed a loan default of Rs 1.12 crore in its Q1 FY24 financial filing. The company's board met on August 14 to approve the quarterly results. Despite the default, the company reported no outstanding loans from banks or financial institutions and no unlisted debt securities. There was no deviation in public proceeds during the quarter.
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Radhagobind Commercial , formerly known as Tejmangal Commercial Company Limited, has submitted its integrated financial filing for the quarter ended June 30, revealing a loan default and providing insights into its financial position.
Board Meeting and Financial Results
The company's board convened on August 14, from 13:30 PM to 15:30 PM, to approve the financial results for the quarter. During this meeting, the board authorized Louis Jose to sign the financial results.
Loan Default Disclosure
In a significant development, Radhagobind Commercial reported a default in loan repayment. The company disclosed that it has defaulted on a loan amount along with interest, totaling Rs 1.12 crore. This information was part of the company's 'Disclosure on Outstanding Default on Loans and Debt Securities' section in the filing.
Financial Indebtedness
The integrated filing provided a breakdown of the company's financial obligations:
| Particulars | Amount (in INR Crore) |
|---|---|
| Loan/revolving facilities from banks/financial institutions | Nil |
| Unlisted Debt Securities (NCDs and NCRPS) | Nil |
| Total Financial Indebtedness | 1.12 |
It's noteworthy that while the company has defaulted on a loan, it reported no outstanding amounts in loans or revolving facilities from banks or financial institutions. Additionally, there are no unlisted debt securities outstanding.
No Deviation in Public Proceeds
Radhagobind Commercial confirmed that there was no deviation or variation in the proceeds from public issues, rights issues, preferential issues, or qualified institutional placements during the quarter ended June 30.
Corporate Information
The company maintains its registered office at 40, Metcalfe Street, 3rd Floor, Room No. 339, Kolkata-700013. Its corporate office is located in Ernakulam, Kerala.
This quarterly filing provides stakeholders with crucial information about Radhagobind Commercial's financial status, particularly highlighting the loan default situation. Investors and market watchers will likely keep a close eye on how the company addresses this default and manages its financial obligations moving forward.
Historical Stock Returns for Radhagobind Commercial
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.42% | -1.83% | -23.76% | -28.33% | -13.65% | -23.76% |
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