 "Anil Ambani group firm Reliance Infra defaults on loans to Yes Bank, others")
Reliance Infrastructure Ltd, a company controlled by the Anil Ambani group, has defaulted on paying dues to privately owned Yes Bank, state-owned Jammu & Kashmir Bank and other lenders.
The defaults, on interest and principal, happened between January 23, 2020 and February 1, 2020, the company informed the Bombay Stock Exchange (BSE) on Tuesday.
The defaults on principal owed to SREI Equipment Finance amounted to Rs 1.04 crore and Rs 20.15 crore to Yes Bank. It failed to pay Rs 30.12 crore as interest to Yes Bank, Rs. 0.36 crore to Jammu and Kashmir Bank, and Rs 0.31 crore to SREI Equipment.
The company's total borrowings from banks and financial institutions stood at Rs 3,872 crore on January 31, 2020. Its total financial indebtedness was Rs. 6,178 crore that day.
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