Unitech had taken the loan in 2007 from LIC Housing Finance in 2007. The loan portfolio was later shifted to parent LIC.
Also read: Realty recovery cycle still far: CIMB
The state-owned insurer has also issued a notice to the company barring it from selling the Noida Sector 96 land, which has been pledged as collateral against the loan.
The company had issued an advertisement seeking buyers for parts of the property. LIC has made it clear that the land cannot be sold unless Unitech repays the loan.
The loan was restructured twice, but the company has still been behind on interest payments even under the revised schedule.
Two of the company's cheques to LIC recently have bounced, and LIC has filed a case for the bounced cheques.
The company has assured LIC that it will pay Rs 78 crore by the end of this month. LIC has taken a tough stance despite the assurance from the company, as the company has been unable to honour its commitments in the past.
LIC Housing Fin stock price
On December 04, 2013, LIC Housing Finance closed at Rs 201.70, down Rs 4.05, or 1.97 percent. The 52-week high of the share was Rs 300.00 and the 52-week low was Rs 152.00.
The company's trailing 12-month (TTM) EPS was at Rs 23.24 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 8.68. The latest book value of the company is Rs 128.43 per share. At current value, the price-to-book value of the company is 1.57.
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