Sumeet Industries Limited announced defaults on payment of interest/repayment of principal amount on loans from Banks/financial institutions for the quarter ended December 31, 2020. Total financial indebtedness of the listed entity including short-term and long-term debt is INR 5,362.6 million. Amount of default as on date is INR 4,940.8 million. Loan accounts of the company have been classified as Non-Performing Assets (NPA) by the Consortium Bank and some of banks out of consortium have not charged interest and therefore provision for interest has not been provided in the books of accounts and also payment of interest has not been mentioned.