Cox and Kings has defaulted on commercial papers (CP) worth Rs 174 crore. This is another instance within a span of four weeks that the beleaguered firm has defaulted on meeting financial obligations. Earlier, the company had defaulted on payment on unsecured commercial papers worth Rs 45 crore.
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.
