Crisil downgrades Arvind Mills NCD

CRISIL has downgraded the non-convertible debenture (NCD) issue of Arvind Mills and put it in the default category.

The rating of C assigned to the NCD issues of Arvind Mills has been downgraded to D, which indicates that the instrument is in default. The company has defaulted on payments since October 1, 2000 with non-payment to institutional subscribers to the NCDs. The CRISIL downgrade covers Rs 72.70 crore of regular income debentures and Rs 25.3 crore cumulative interest debentures.