Shares of Cox & Kings changed into locked at 10% decrease circuit to Rs. 36.Forty five, after the organization defaulted on the price of industrial papers due to coins float mismatch.
Out of the combination amount of Rs. Two hundred crore of the unsecured industrial papers, the business enterprise paid Rs. 50 crore and the stability quantity of Rs. One hundred fifty crore has now not been paid.
The enterprise has been assembly its legal responsibility responsibilities. However, because of coins flow mismatch and a situation exacerbated by score downgrade, the enterprise proposes to meet its financial obligations through a aggregate of internal accruals and monetisation of belongings.
The company is operating toward plans to make exact its responsibilities.
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