The company has defaulted on Rs 5 crore payments on unsecured commercial paper due on August 6.

Shares of Cox & Kings are locked at 5 percent lower circuit as company defaulted on payment of unsecured commercial paper.

It has touched a 52-week low of Rs 8.93.

The company has defaulted on Rs 5 crore payments on unsecured commercial paper due on August 6.

There were pending sell orders of 2,711,726 shares, with no buyers available.

Earlier, the company had defaulted on payment of Rs 100 crore worth unsecured commercial paper due on August 1, 2019 and repayment of Rs 10 crore on commercial papers due on July 29.

At 1102 hours, Cox & Kings was quoting at Rs 8.93, down Rs 0.46 on the BSE.

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