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Gayatri Projects has defaulted on ₹1.37 crore (₹1.02 crore principal and interest ₹0.35 crore) payable to SREI Equipment Finance. The amount was payable by January 15. Of the sanctioned ₹54.23 crore, the company says it has an outstanding of ₹36.81 crore. The total amount of outstanding borrowings from banks/financial institutions stands at ₹1,893.60 crore, the company said in a notice to the exchanges. Shareholders and investors will closely monitor further developments.
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