The monetary debt of Anil Ambani-led Reliance Capital now works out to over Rs 19,805 crore.
The principal quantity as a result of Housing Development Finance Corporation (HDFC) is Rs 523.98 crore and to Axis Bank Rs 100.63 crore. The whole quantity of excellent borrowings from banks and monetary establishments works out to Rs 679.23 crore, together with accrued curiosity as much as August, stated the corporate.
“The total financial indebtedness of the listed entity including short-term and long-term debt totals Rs 19,805.7 crore, including interest accrued up to August 31, 2020,” it stated in regulatory filings at inventory exchanges late on Friday.
The delay in debt servicing is because of the prohibition on the corporate to dispose off, alienate, encumber both immediately or not directly or in any other case half with the possession of any belongings after the Delhi High Court’s order on November 20, 2019.
After the proceedings initiated by Vistra ITCL India Ltd, the Debts Recovery Tribunal on December 3, 2019, additionally prohibited the corporate from transferring, alienating, encumbering or in any other case parting with the possession of belongings owned by the corporate.
“In view of the above, the company is unable to proceed with its asset monetisation resulting in a delay in its debt servicing,” stated Reliance Capital.
Last 12 months, the corporate stated that it has suffered nice collateral harm as a result of a mixture of things, together with the disaster within the monetary companies sector, irrational motion by auditors and ranking businesses, and a slowdown within the Indian economic system.
On Friday (September 18), shares of Reliance Capital closed 1.03 per cent decrease on BSE at Rs 8.64 per unit.