Auto-Maker Mahindra's South Korean Arm Defaults On $55 Million Payment
Tuesday, 15 December 2020Newsdesk
Automaker Mahindra & Mahindra's South Korean unit Ssangyong Motor Co has defaulted on loan repayment of about 60 billion won ($55 million), the company said in a statement to the stock exchange on Tuesday.
New Delhi, 15 December 2020
As per news report of NDTV, of the total payment that was due on December 14, about 30 billion won was owed to Bank of America, 20 billion won to JP Morgan Chase and 10 billion won to BNP Paribas, Mahindra said.
Source -NDTV
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