Reliance Home Finance defaults loan repayment to P&S Bank
The Anil Ambani-controlled Reliance Capital s subsidiary defaulted on loan on February 15, 2021, and the current amount of default is Rs 40 crore alongside an interest of Rs 15 lakh
PTI | March 6, 2021 | Updated 20:51 IST
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Reliance Home Finance Ltd (RHFL) on Saturday said it has defaulted on loan of over Rs 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 loan on February 15, 2021, and the current amount of default is Rs 40 crore alongside an interest of Rs 15 lakh.
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The lenders of RHFL are unable to proceed with the resolution process due to a coercive stay obtained by the SP Group from the Delhi High Court in November 2019.As p