RCap referred to NCLT, Reliance Power defaults
1 min read Even because the Reserve Bank of India (RBI) on Thursday referred Reliance Capital Ltd to the Mumbai Bench of the National Company Law Tribunal (NCLT), one other Anil Ambani group agency, Reliance Power, stated it defaulted on curiosity fee to 2 banks.
“The Reserve Bank has today (2 December) filed an application for initiation of corporate insolvency resolution process (CIRP) against Reliance Capital,” the RBI stated in an announcement.
Reliance Power has defaulted on curiosity fee to IDBI Bank and DBS Bank. It owes IDBI Bank Rs 42 crore in principal and Rs 0.44 crore value of curiosity, in response to its alternate submitting. It owes DBS Bank India Rs 113 crore and curiosity value Rs 1.17 crore.
