Cox & Kings has defaulted on its payment obligation on commercial papers worth Rs 30 crore. The company has defaulted on payment towards maturity of unsecured commercial paper worth Rs 30 crore.
The company is working closely with its lenders to optimise its asset base globally and bring the situation back to normal as soon as possible.
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.
