Aksh Optifibre Hit with ₹36.63 Cr Demand from HDFC Bank Amid Financial Strain

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Aksh Optifibre Ltd has received a notice from HDFC Bank demanding repayment of ₹36.63 crore, intensifying the financial pressure on the telecom infrastructure and optical fibre manufacturer. The notice, issued under the SARFAESI Act, pertains to a loan default and signals the lender’s intent to initiate recovery proceedings if dues remain unpaid.

Demand Details:

The notice was served for ₹366.3 million, including principal and accrued interest.
HDFC Bank has invoked its rights under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.

Company’s Financial Health:

Aksh Optifibre reported a net loss of ₹20.1 crore in FY25, with revenues declining to ₹127 crore.
The company’s credit rating remains at ‘D’, indicating high default risk.
Promoter holding is low at 24.3%, with public shareholding exceeding 75%.

Operational Challenges:

The company has been grappling with working capital constraints, delayed receivables, and underutilized capacity.
It is also facing insolvency proceedings from other creditors, including a Section 7 application filed earlier this year.

Next Steps:

Aksh is expected to respond within the statutory 60day window.
If unresolved, HDFC Bank may proceed with asset seizure or auction of secured properties.

This development adds to Aksh Optifibre’s mounting legal and financial woes, raising concerns over its ability to sustain operations without a major capital infusion or restructuring.

Source: Economic Times, Moneycontrol, Aksh Optifibre Exchange Filings