Jindal Steel & Power Ltd (JSPL) has defaulted on interest repayments to its bonds holders, who did not receive any interest income falling due in September 30, 2016. Those non-convertible debentures (NCDs) had a coupon rate of 9.8 per cent with about two-10 year maturities with banks, provident funds believed to be the investors. Axis Trustee Services was the trustee.
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