The non-banking lender [aid the interest due on the debentures but failed to honour principal repayment obligations, Reliance Mutual Fund said in a statement. The Anil Ambani-controlled Reliance Capital group firm Reliance Home Finance has defaulted on loan repayment of Rs 40.08 crore in February, it said in a regulatory filing. Reliance Capital and Reliance Home Finance have been downgraded to default by major rating agencies, I have some money invested in secured NCDs for reliance home finance and have some investments in Reliance Mutual Funds ( liquid and arbitrage) More trouble for debt funds, CARE downgrades Reliance Commercial Finance to 'D' 3 min read. Updated: 28 Apr 2019, 12:51 PM IST Neil Borate. (See the full update by Reliance MF) Reliance Home Finance defaulted on loan repayment of Rs 40 crore in Feb. Of the loan default dated February 8, 2020, the disclosure of which was made on March 10 to the exchanges, Rs 40 crore is towards principal and Rs 0.08 crore as interest to its lender Punjab and … The company has cash on hand of approximately Rs 700 crore in the form of investment in liquid mutual fund, it said. New Delhi: The Anil Ambani-controlled Reliance Capital group firm Reliance Home Finance has defaulted on loan repayment of Rs 40.08 crore in February, it said in a regulatory filing on Tuesday. Reliance Home Finance on Friday said one of its Independent Directors Padmanabh Vora has resigned from the board citing default in payment of dues and rating downgrade as reasons.In a BSE filing, Reli These provisions may/may not result in actual losses subject to the obligations being repaid in the future. Reliance MF said that it has considered the development as a ‘Default’, and as per regulatory guidelines prescribed by SEBI, it has made provisions and marked-down investments in the securities issued by Reliance Home Finance. Reliance Home Finance Ltd. has failed to repay the principal obligations on its non-convertible debentures held by Reliance Mutual Fund, worth Rs 400 crore.
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