Industry

Reliance HF defaults on ₹40-crore loan

Reliance Home Finance Ltd. (RHFL) on Saturday said it had defaulted on a loan of more than ₹40 crore from Punjab & Sind Bank, even as the company has enough cash and cash equivalent which it cannot use due to a court order.

The Anil Ambani-controlled Reliance Capital’s subsidiary defaulted on the loan on February 15, 2021, and the current amount of default is ₹40 crore alongside an interest of ₹15 lakh.

The company’s total obligation is of ₹200 crore on a 5-year tenure secured term loan at 9.25% per annum from Punjab & Sind Bank, RHFL said in a regulatory filing.

The company has net cash of more than ₹1,500 crore, it said.

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Printable version | Apr 19, 2021 2:28:43 PM | https://www.thehindu.com/business/Industry/reliance-hf-defaults-on-40-crore-loan/article34008030.ece

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