MUMBAI: More than 80 investors, including Axis Bank, Karur Vysya, Syndicate, Corporation Bank and some pension funds, stare at a knock of at least Rs 800 crore in their books in the September quarter as beleaguered Amtek Auto may fail to reschedule its payments, four people familiar with the development said. Investors are unlikely to yield to the company’s requests for a reschedulement since high networth individuals and pension funds also own a substantial sum of the bonds which are maturing this month, said those people, who did not want to be identified. “They are asking for a restructure, but it won’t be possible given that there are more than 80 investors,” said a banker who did not want to be identified. “There are just about 10 banks owning the bonds, so they can’t determine what should be done.” The Gurgaon-based company which supplies to firms such as Maruti Suzuki has a portion of its Rs 200 crore, 10-year bonds maturing in October, in which it could fail to meet its obligations as well, they said. “As a matter of policy, we do not comment on individual client transactions/investments,” Axis Bank said. Amtek Auto officials could not be reached for comments despite repeated attempts. It is not clear how much is Axis’ total exposure to Amtek. Amtek Auto’s severe cash crunch has already taken a toll on JPMorgan Asset Management in India with the mutual fund company restricting withdrawals from two of its fixed income funds following write down of value. Nearly Rs 16,000 crore worth of loans and bonds are at stake. These need not turn bad loans immediately since Amtek could keep paying interest and keep them as standard as it reorganises its finances. In May, Amtek Auto agreed to buy Germany’s Rege Holding GmbH. It was at least its 19th acquisition. The group manages some 63 production facilities in several countries with a focus on casting and forging business mainly for the automobile makers. The woes of Amtek Auto have been gradually piling up with its credit rating downgraded in September 2014 to AA, from AA+ by rating company CARE. The rating was further downgraded to C in August, from A +. “We know there is a problem at Amtek,” said another banker. “We are talking to the company on how to get them out of this.” The company reported a loss of Rs 157.6 crore in the June quarter, compared with a net profit of Rs 86.1 crore a year ago. Total income fell to Rs 866.3 crore, from Rs 1064.4 crore. Its debt is estimated to be around Rs 17,661 crore. The stock has plunged 88% from its peak in a year and Amtek has warned about its failing financial health.