India's Global Offshore Services (GOS) has defaulted on an Axis Bank loan.
It said there is INR 112.6m ($14.39m) outstanding on the unsecured facility, plus interest.
No other details were provided.
GOS has 10 offshore support vessels and a general cargoship.
It managed to cut its third quarter loss to INR 9.5m in the three months to 31 December, against INR 103.3m
