Parsvnath Rail Land announces deferral of debenture interest payment

By Caroline Salls

Pittsburgh, July 16 – Parsvnath Rail Land Project Pvt. Ltd. said the interest on its series B non-convertible debentures from the date of issuance to March 31 will be payable on the date the company achieves 40% of total project sales, according to a news release.

The company said the interest for the period in question will be paid on or before Dec. 31, 2015 or another date decided by its board in consultation with the debenture holders.

The issuer is a real estate subsidiary of New Delhi-based real estate and infrastructure developer Parsvnath Group.

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