2024-03-27 16:40:00
In another massive win for Anil Ambani, his companies have cleared Rs 1023 crore of debt.
Reliance Power shares continue to rise in the market. With this, Anil Ambani is again taking a step towards the market boom.
Over the past few days, Anil Ambani’s Reliance has defaulted on loans from three major banks.
Now again, two subsidiaries of Reliance Power, Kalai Power Pvt Ltd and Reliance Cleangen Ltd, have repaid a debt of Rs 1023 crore.
In a stock market filing, subsidiaries have signed a debt relief and exit agreement with Reliance Commercial Finance Ltd (RCFL).
The total outstanding loan amount of Rs.1023 crore was also repaid.
It is noteworthy that Atham Investment and Infrastructure Ltd has already bought Reliance Commercial Finance for just Rs 1 crore.
In the past few weeks, Anil Ambani’s Reliance Power has written off its loans to ICICI Bank, Axis Bank and DBS Bank.
Accordingly, Anil Ambani is aiming to pay off the Rs 2100 crore debt he has with JC Flowers Asset Reconstruction Company.
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