New Delhi: Anil Ambani led Reliance Infrastructures Ltd has defaulted in repayment to various lenders like Yes Bank, J&K Bank and SREI Equipment Finance Ltd in the month of February and March 2020.
Reliance Infra defaulted in repayment of principal amount of Rs 1.04 crore to SREI Equipment Finance and interest amount of Rs 0.36 crore to J&K Bank and Rs 0.30 crore to SREI Equipment Finance on 29 February. The company made a disclosure about this default on 31 March 2020.
The Infra company also defaulted in repayment of interest of Rs 29.89 crore to Yes Bank on 1 March. The date of making this disclosure was 1 April 2020.
Total amount of outstanding borrowings from banks and financial institutions as on 1 March stood at Rs 4,592 crore. Total financial indebtedness of Reliance Infra including short-term and long-term debt as on 1 March 2020 stood at Rs 6190 crore, the company said in a regulatory filing.
Within months of Reliance Infrastructure inducting Anil Ambani’s sons- Anmol and Anshul into the board of directors, the two have resigned from the their positions on 31 January 2020.
The two had joined the board of the infrastructure company as non-executive directors on 9 October, 2019. The company did not specify the reason for the resignation.
The company had suffered a net loss of Rs 1664 crore in the 2018-2019 financial year.