Reliance Home Finance (RHFL) defaults loan repayment of Rs 40 crore to Punjab & Sind Bank – sources
Reliance Home Finance Ltd (RHFL) said Saturday that it has default loan repayment of more than Rs 40 crore from Punjab & Sind Bank, even if the company has enough cash and cash equivalents that it cannot use due to a court order.
The Anil Ambani-controlled Reliance Capital’s subsidiary defaulted on the mortgage on February 15, 2021, and the current amount of default is Rs 40 lakh as well as Rs 15 lakh.
Reliance Home Finance (RHFL) said in a regulatory deposit that the entire liability of the corporate is Rs 200 crore from Punjab and Sindh Financial Institution, which is on a mortgage of 5 years each of 9.25 percent each year. The company said that the company has more than Rs 1,500 crore in cash (including cash equivalents, liquid mutual fund inv...