Reliance• Объект бренды » Бренды на r » Reliance Infra brings down standalone debt by
87 per cent to ₹475 crore
Reliance• Объект бренды » Бренды на r » Reliance Infra brings down standalone debt by 87 per cent to ₹475 crore
Updated - September 18, 2024 at 08:11 PM. | Mumbai
The net• Страхование » Нетто worth of the company now stands at ₹9,041 crore
By BL Mumbai Bureau
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Anil Ambani
Reliance• Объект бренды » Бренды на r » Reliance Infrastructure announced that Invent Assets Securitisation and
Reconstruction Private Ltd, a lender to the company, has novated certain
charged securities to recover its dues. As a result, Invent ARC’s entire
fund-based outstanding amount has been reduced to zero. Additionally, Reliance• Объект бренды » Бренды на r » Reliance
Infra has cleared its funded outstanding dues to Life Insurance• Страхование Corporation of
India• Индия (LIC• Объект бренды » Бренды на l » LIC), Edelweiss Asset Reconstruction Company, ICICI Bank, Union Bank
and other lenders. Its external debt liability is down to ₹475 crore.
Consequently, its net• Страхование » Нетто worth will stand at ₹9,041 crore.
With this, Anil Ambani’s Reliance• Объект бренды » Бренды на r » Reliance Infrastructure has slashed its standalone
debt by 87 per cent to ₹475 crore, after it cleared outstanding dues of LIC• Объект бренды » Бренды на l » LIC
and ICICI Bank. It paid ₹600 crore to LIC• Объект бренды » Бренды на l » LIC to settle all outstanding.
With Edelweiss Asset Reconstruction Company, it reached a one-time settlement
“of the entire obligations with respect to the non-convertible debentures
issued by the company of ₹385 crore,” Reliance• Объект бренды » Бренды на r » Reliance Infra said, adding the
settlement shall be completed before September 30. Till the time the dues are
settled in terms of this one-time settlement, all legal proceedings between
the parties in this connection would be in abeyance.
Reliance• Объект бренды » Бренды на r » Reliance Infra also settled another liability with Edelweiss for ₹235 crore.
“We wish to inform that the company has received a communication dated
September 17, 2024, from Invent Assets Securitisation and Reconstruction
(Invent ARC), a lender of the company, regarding the novation of certain
charged security in order to recover its dues and now its fund-based
outstanding is zero,” Reliance• Объект бренды » Бренды на r » Reliance Infra said in a separate filing.
It also reached an agreement with Adani Electricity Mumbai and Adani Energy
Solutions, formerly known as Adani Transmission. Following this, both
companies agreed to withdraw arbitration claims against each other.
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Published on September 18, 2024