Anil Ambani-Led RCom Group’s Debt Swells To Rs 20,380 Cr, Owes To Leading Indian Banks

Spread the love

Mumbai: Reliance Capital Ltd, the arm of Anil Ambani-led Reliance Group has announced that by the end of December 2020, the outstanding debt amount rose to Rs 20,379.71 crore. The debt including interest as of August 31, 2020, stood at Rs 19,805.7 crore. ALSO READ | Airfare Sale: Book Tickets At Discounted Price Starting Rs 1,299

Reliance Capital at the regulatory filing on Thursday said that the total financial indebtedness of the listed entity, including short-term and long-term debt and accrued interest, was Rs 20,379.71 crore at the end of December 2020.

According to RCL, the principal amount due to HDFC Ltd is Rs 523.98 crore and to Axis Bank Rs 100.63 crore.

The total amount of outstanding borrowings from banks and financial institutions works out to Rs 700.76 crore, including accrued interest up to December 31, the company further added.

Similarly, Reliance Home Finance, another arm of the Anil Ambani led Reliance, has said that the total outstanding debt was close to Rs 13,000 crore

ALSO READ | Flipkart, Swiggy Under Income Tax Scanner; Searches Conducted At Premises

The total financial indebtedness of the listed entity, including short-term and long-term debt, stood at Rs 12,943.18 crore at the end of December 31, 2020. This includes principal and interest.

SBI Declares Reliance Accounts As Fraud

The troubles of Anil Ambani are not yet over, as the State Bank of India (SBI) told the Delhi High Court, that bank accounts of Reliance Communication, Reliance Telecom, and Reliance Infratel have been declared a fraud, opening up possibilities of a probe by the Central Bureau of Investigation.

Meanwhile, the court has asked the bank to maintain the status quo on the accounts.

According to the data available on the website of Reliance communication at the time of filing of bankruptcy, creditors had claimed that the mobile operator firm owed over Rs 49,000 crore, Reliance Infratel owed over Rs 12,000 crore and Reliance Telecom owed over Rs 24,000 crore to the SBI.


Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *