Reliance Infrastructure defaulted on loans of YES Bank, J&K Bank and Srei

Reliance Infrastructure has disclosed that it has defaulted on loans of YES Bank and J&K Bank. In a statement to the stock exchange, the company said it has not paid interest of Rs 29.55 crore to YES Bank as on May 1.
 

The firm said it had borrowings of Rs 3,627 crore from YES Bank, in a disclosure to the stock exchanges. In another disclosure on Monday, the company said it also defaulted on a loan of J&K Bank and Srei Equipment Finance on April 30.
 

The company said its total financial indebtedness of the listed entity, including short-term and long-term debt, was Rs 6,267 crore as on April 30. The company also defaulted to a principal amount repayment worth Rs 4.88 crore to YES Bank on April 29 on a total principal of Rs 944 crore, the company said.