Reliance Capital announced that delay in debt servicing is due to prohibition on the Company to dispose off, alienate, encumber either directly or indirectly or otherwise part with the possession of any assets. pursuant to Order dated 20 November 2019 passed by the Hon'ble Delhi High Court in the matter of OMP(I) COMM. 41912019 and OMP(I) COMM. 42012019. Further, pursuant to the proceedings initiated by
Vistra ITCL (India). The Debts Recovery Tribunal vide its order dated 03 December 2019 has also prohibited the Company from transferring, alienating, encumbering or otherwise parting with the possession of assets owned by the Company.
In view of the above the Company is unable to proceed with its asset monetization resulting in delay in its debt servicing.
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