This rating downgrade has initiated acceleration, etc. of various facilities by certain lenders and consequential demands for immediate payment of amounts that were otherwise due and payable in a phased manner over the next eight years till March 2028, as per the original terms of lending, Reliance Capital had said earlier in October.
"It is expected that the debt servicing of the company in relation to the accelerated amounts and otherwise will be delayed.
"Accordingly, as regards the Non-Convertible Debenture, the interest/principal obligations due on November 15, 2019, is also delayed," it said.
Reliance Capital shares closed at Rs 21.05, down 4.97 per cent on BSE on Friday.