 "Anil Ambani's Reliance Naval risks insolvency as banks say no to debt plan")
Anil Ambani-promoted Reliance Infrastructure has, at the consolidated level, defaulted to the tune of Rs 3,315 crore. The company’s annual report for FY20 stated that it has defaulted on payments of both interest and principal to various lenders.
In notes to its consolidated results for FY20, the list of debt on which it has defaulted, or has delayed payments, includes 33 different lenders and non-convertible debenture (NCD) series. The duration of default ranged from 1 day to 640 days. The duration of delay, meanwhile, ranged from 89 days to 304 days.
In a statement to the BSE on Sunday, RInfra pegged the
