{"id":124927,"date":"2019-06-28T03:30:34","date_gmt":"2019-06-28T03:30:34","guid":{"rendered":"https:\/\/www.bnreport.com\/cox-kings-defaults-on-repaying-maturing-cp\/"},"modified":"2019-06-28T03:30:34","modified_gmt":"2019-06-28T03:30:34","slug":"cox-kings-defaults-on-repaying-maturing-cp","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/cox-kings-defaults-on-repaying-maturing-cp\/","title":{"rendered":"Cox &amp; Kings defaults on repaying maturing CP"},"content":{"rendered":"<p>Cox &amp; Kings on Thursday said it failed to meet a debt repayment obligation towards maturity of unsecured commercial papers on June 26. Out of an aggregate amount of Rs 200 crore, the company managed to pay Rs 50 crore while the balance amount of Rs 150 crore remained unpaid, the company said.<\/p>\n<p>It made the disclosure to stock exchanges under Regulation 30 of Sebi (Listing Obligations and Disclosure Requirements) Regulation 2015.<\/p>\n<p>\u201cWe wish to further state that the company has been meeting its liability obligations. However, due to cash flow mismatch and a situation exacerbated by rating downgrade, the company proposes to meet its financial obligations through a combination of internal accruals and monetisation of assets. The company is working towards plans to make good its obligations,\u201d the company said.<\/p>\n<p>Shares of the company fell 10 per cent in Mumbai trading on Thursday to close at Rs 40 even as the broader market benchmark Sensex closed flat.<\/p>\n<p>On Wednesday, <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/Brickwork-Ratings\" rel=\"noreferrer noopener\" target=\"_blank\">Brickwork Ratings<\/a> d<a href=\"https:\/\/economictimes.indiatimes.com\/markets\/stocks\/news\/cox-kings-defaults-on-repaying-maturing-cp\/articleshow\/69979299.cms\" rel=\"noreferrer noopener\" target=\"_blank\"><strong>Read More \u2013 Source<\/strong><\/a><br \/>\n[contf]<br \/>\n[contfnew]<br \/>\n        <img decoding=\"async\" src=\"https:\/\/img.etimg.com\/photo\/60278104.cms\" \/><\/p>\n<h5><a href=\"https:\/\/economictimes.indiatimes.com\/\" rel=\"noreferrer noopener\" target=\"_blank\">ET Markets<\/a><\/h5>\n<p>[contfnewc]<br \/>\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cox &amp; Kings on Thursday said it failed to meet a debt repaym..<\/p>\n","protected":false},"author":1,"featured_media":124928,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-124927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cox &amp; Kings defaults on repaying maturing CP - Business News Report<\/title>\n<meta name=\"description\" content=\"Cox &amp; Kings on Thursday said it failed to meet a debt repaym..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/cox-kings-defaults-on-repaying-maturing-cp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cox &amp; 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