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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Patspin India Ltd

Patspin India Ltd defaults on Rs. 24.37 Crore bank loan obligations

REGULATORY ▼ Concern Flagged HIGH RISK
📅 Filed on BSE: 01 Apr 2026, 01:54 PM IST  ·  BSE ID: 511abd2d-8a2f-4c33-9ccd-6f6b81656e85
View Original BSE Filing (PDF)
💡
In Simple Terms
The company stopped paying its bank loans — it owes Rs. 24.37 Crore in missed principal and interest payments across three banks as of March 31, 2026.
🤖 AI Summary
  • Patspin India Ltd defaulted on Rs. 24.37 Crore in bank loan payments as of March 31, 2026
  • Default comprises principal of Rs. 16.67 Crore and accrued interest of Rs. 7.71 Crore across three banks
  • Three lenders affected: Central Bank of India (Rs. 33.00 Crore outstanding), SBI (Rs. 20.77 Crore), Karur Vysya Bank (Rs. 2.91 Crore)
  • Total financial indebtedness of company is Rs. 56.67 Crore; default represents 43% of total outstanding debt
  • Filed under SEBI mandatory disclosure requirement for loan defaults dated November 21, 2019
🔢 Key Numbers - exact figures from BSE filing, not rounded
Current default amount (Principal + Interest)
Rs. 24.37 Crore
Principal in default
Rs. 16.67 Crore
Interest arrears
Rs. 7.71 Crore
Total outstanding borrowings
Rs. 56.67 Crore
Default as % of total debt
43%
Central Bank of India exposure
Rs. 33.00 Crore
State Bank of India exposure
Rs. 20.77 Crore
Karur Vysya Bank exposure
Rs. 2.91 Crore
Date of default
March 31, 2026
🏢 How This Affects the Company
📈
Business Impact
Default status restricts the company's ability to access fresh credit facilities from banks, constraining operational financing and business expansion capacity.
💰
Financial Impact
Rs. 24.37 Crore in unpaid obligations damages balance sheet liquidity. Default triggers potential covenant violations, penalties, and acceleration clauses on remaining Rs. 32.30 Crore of non-defaulted debt.
⚙️
Operational Impact
Banks holding default exposure will tighten working capital limits and credit terms, directly limiting cash availability for day-to-day operations and capex.
⚠️
Risk Impact
Default classification increases insolvency and bankruptcy risk. Lenders retain right to initiate recovery proceedings, asset seizure, or debt restructuring under SARFAESI Act.
👥 What This Means For Shareholders
✅
Action Required
Shareholders holding equity must monitor for potential debt restructuring announcements, asset sales, or insolvency filings within 60–90 days.
👤
Who Is Affected
All equity shareholders face dilution risk if debt restructuring involves forced equity conversion. Creditors hold priority claim over shareholder assets in recovery proceedings.
🔍
Management Signal
Default indicates management was unable to service debt from operating cash flow or refinancing, suggesting either operational failure or external revenue collapse.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List - track these upcoming events
Bank recovery notice or demand letter — check for filing within 15 days under SEBI Regulation 30
Debt restructuring announcement or standstill agreement — reveals lender consensus on company viability
Q4 FY26 financial results — verify cash position, revenue, and EBITDA to assess repayment capacity
HIGH RISK Material default of Rs. 24.37 Crore across three simultaneous bank lenders creates acute insolvency risk and potential forced liquidation or restructuring proceedings.
💡 Investor Takeaway
Patspin India Ltd has defaulted on Rs. 24.37 Crore (principal Rs. 16.67 Crore plus interest Rs. 7.71 Crore) across three banks. Default represents 43% of total Rs. 56.67 Crore outstanding debt, indicating significant liquidity crisis. No repayment plan disclosed in filing.
⚖️ Strengths & Concerns

⚠️ Concerns

  • Default amount of Rs. 24.37 Crore equals 43% of total outstanding borrowings of Rs. 56.67 Crore, indicating material liquidity stress
  • Three simultaneous bank defaults signal systemic cash position failure, not isolated transaction delay or banking error
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⚠️ For Information Only - Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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