Suzlon defaults on loans worth over Rs 7,200 cr

on Tuesday said that it has defaulted on loans amounting to Rs 7,256.38 crore.

The total default amount includes a principal of Rs 6,717.44 crore and interest of Rs 538.94 crore, the company said in a regulatory filing.

The loans were given by a consortium of 18 banks led by the State Bank of India along with the Indian Renewable Energy Development Agency (IREDA).

According to the filing, the loans included funds based on working capital, non fund based working capital, term loans and standby letter of credit.

Source: IANS