Cox & Kings defaults on payment of commercial papers worth Rs 30 cr

Tours and travel company Cox & Kings on Friday said it has defaulted on its payment obligation on commercial papers worth Rs 30 crore. The company has defaulted on payment towards maturity of unsecured commercial paper worth Rs 30 crore, Cox & Kings said in a BSE filing.

"The company is working closely with its lenders to optimise its asset base globally and bring the situation back to normal as soon as possible," it added. Shares of Cox & Kings closed at Rs 4.18 per scrip on the BSE, down 3.46 per cent from its previous close.