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HDIL promoters clear interest arrears to Indiabulls Housing

Last Updated: Monday, August 12, 2013 - 14:55

New Delhi: Realty firm Housing Development & Infrastructure Ltd (HDIL) on Monday said that its promoters have paid interest arrears on loan taken from Indiabulls Housing Finance.

HDIL said last week that its promoters had not paid interest on loan taken for their personal use from Indiabulls Housing Finance.

Indiabulls had served notice on the HDIL promoters under Securitisation and Reconstruction of Financial Assets and enforcement of Security Interest Act, 2002.

In a filing to the BSE, HDIL said, "the company has been informed by the promoters that they have paid the interest arrears on their loan from Indiabulls Housing Finance Ltd."

"Indiabulls have acknowledged the receipt of their dues and have withdrawn their notice under Securitisation and Reconstruction of Financial Assets and enforcement of Security Interest Act, 2002," it added.

Promoters have taken a mortgage loan against their property in Goa for their personal use, and the interest on loan was not paid.

Promoters have 36.17 percent stake in the company as on June 30.

In the afternoon trade, shares of HDIL was up 1.34 percent to Rs 30.20 apiece on BSE.

PTI

First Published: Monday, August 12, 2013 - 14:53
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