Anil Ambani's Reliance Capital clears commercial paper dues worth Rs 75 crore
Last month, Anil Ambani-led Reliance Group had claimed that over Rs 35,000 crore of loans--- principal of Rs 24,800 crore and interest payments of Rs 10,600 crore --- have been paid back in the last 14 months and all future payment obligations will be met in a timely manner
- Jul 25, 2019,
- Updated Jul 25, 2019 4:57 PM IST
The Anil Ambani-controlled financial services company Reliance Capital on Thursday said it has fully repaid its outstanding Commercial Paper (CP) of Rs 75 crore on July 24, 2019.
"With the above repayment the CP outstanding stands at zero from the peak outstanding amount of approximately Rs 3,500 crore," Reliance Capital said in a filing to the Bombay Stock Exchange.
The financial services arm of the troubled Reliance Anil Dhirubhai Ambani Group (ADAG) said the CPs were rated A4 by ICRA, and have been repaid in full on the due date.
The financial services businesses of Anil Ambani are facing crises as the rating agencies doubt the group's ability to repay the debts. As of March 31, 2019, Reliance Capital had net debt of Rs 46,400 crore.
Last month, the Reliance Group had claimed that over Rs 35,000 crore of loans--- principal of Rs 24,800 crore and interest payments of Rs 10,600 crore --- have been paid back in the last 14 months and all future payment obligations will be met in a timely manner.
The Anil Ambani-controlled financial services company Reliance Capital on Thursday said it has fully repaid its outstanding Commercial Paper (CP) of Rs 75 crore on July 24, 2019.
"With the above repayment the CP outstanding stands at zero from the peak outstanding amount of approximately Rs 3,500 crore," Reliance Capital said in a filing to the Bombay Stock Exchange.
The financial services arm of the troubled Reliance Anil Dhirubhai Ambani Group (ADAG) said the CPs were rated A4 by ICRA, and have been repaid in full on the due date.
The financial services businesses of Anil Ambani are facing crises as the rating agencies doubt the group's ability to repay the debts. As of March 31, 2019, Reliance Capital had net debt of Rs 46,400 crore.
Last month, the Reliance Group had claimed that over Rs 35,000 crore of loans--- principal of Rs 24,800 crore and interest payments of Rs 10,600 crore --- have been paid back in the last 14 months and all future payment obligations will be met in a timely manner.