New Delhi: In signs of further distress and bad news for the sector, Anil Ambani-led Reliance Infrastructure Ltd has defaulted in repaying to a clutch of banks including Yes Bank.
The company defaulted in repaying Rs 50.27 crore to Yes Bank in 23 janury-1 february 2020 period. Out of Rs 50.27 crore, Rs 20.15 crore is principal amount and the rest is interest amount, the company said in a regulatory filing.
R-Infra also defaulted on principal repayment of Rs 1.04 crore and interest payment of Rs 0.31 crore as interest to SREI Equipment Finance in the same time period.
The infrastructure player also defaulted in interest payment of Rs 0.36 crore Jammu and Kashmir Bank in the same time period.
R-Infra’s total borrowings from various banks and financial institutions was Rs 3,872 crore as on 31 January, 2020. Company’s total financial indebtedness stood at Rs 6,178 crore as on 31 January, 2020.
Interestingly, sons of Anil Ambani-Anmol and Anshul had resigned from the board of the company with effect from 31 January 2020 within six months of being appointed as directors.
R-Infra clocked 18 percent rise in net profit at Rs 345.51 crore for the third quarter of the current fiscal. The total income of the company in the latest quarter stood at Rs 4,527.37 crore as compared to Rs 4,534.42 crore in same quarter of the previous fiscal.