Anil Ambani-backed Reliance Capital delays interest payment obligation

File photo of Anil Ambani
Reliance Capital has informed the exchanges that it’s servicing of interest or principal of non-convertible debentures falling due on December 9 is delayed. 

The firm in its filing to the exchanges said, CARE rating downgrading the company’s entire debt to default rating in September, despite no overdues on principal or interest payment to any lender on the part of the firm, has led to acceleration of various facilities by certain lenders. 

The demand for immediate payments for the facilities availed by the firm from various lenders, which other-wise was to be paid over a phased manner.