Cox and Kings has defaulted on its repayment obligations on commercial papers (CP) worth Rs 45 crore, while interest of Rs 41 lakh could not be paid timely on bonds worth Rs 50 crore. This is the fourth instance within a span of just three weeks that the beleaguered firm has defaulted on meeting financial obligations.
Cox and Kings is engaged in providing travel management solutions. Its services include destination management, outbound tourism, business travel, insurance and conference solutions. The firm also offers domestic holidays, trade fairs, foreign exchange and insurance.