Next step for Anil Ambani .. RBI took action ..!

by time news

The Reserve Bank of India (RBI) has dissolved the board of directors of Reliance Capital, a subsidiary of Anil Ambani’s Reliance Group, and appointed a new executive. In a statement, the Reserve Bank of India (RBI) dismissed the board of directors for failing to repay loans and interest.

The move comes as Reliance Capital did not make timely repayments to those who owed money. Anil Ambani, who is already in the midst of a serious debt crisis, is in the throes of a series of problems.

Although the company has taken steps to repay more money, it has not been able to do so in full. Thus the investors could not repay the money properly. It is in this context that the Reserve Bank has taken such a drastic step.

The Reserve Bank of India (RBI) has said that Reliance Capital’s board of directors will be dissolved and reshuffled. Nageshwar Rao, former managing director of Bank of Maharashtra, has also been appointed as the company’s executive.

The RBI has also announced that efforts will be made to settle the company under the Bankruptcy Act. While most of Anil Ambani’s companies are running at a loss, Anil Ambani continues to be in the midst of various credit problems.

Reliance Capital has been a leading financial institution registered under the Reserve Bank. It has been doing many businesses including insurance, property management, property reconstruction. It has managed assets worth Rs 64,878 crore in the last 2020-21.

Reliance Capital traded down 4.99% at Rs 18.10 on the NSE today. At the same BSE, the stock is down 4.99% at Rs 18.10 on the NSE today. Its maximum and minimum price is 18.10 rupees. The same 52 week high price is 30.80 rupees. The same 52 week minimum price is 8.82 rupees.

Insolvency proceedings against Anil Ambani's company will start soon, RBI  dissolves board | Dailyindia.net
There are no promoters for this company. Rather public investments are just too much. At present it is 97.8%. The company has been seeing losses year after year. The company had a consolidated revenue of Rs 19,308 crore in 2020-21. The same net loss was Rs 9,287 crore. It had a net loss of Rs 1,199 crore in the previous year and a revenue of Rs 18,359 crore.

Care Ratings downgraded the company two years ago. This may have been a major setback for the company. Reliance Home Finance, already part of the Reliance Group, is in bankruptcy amid heavy debt problems with Reliance Commercial Finance.

.

You may also like

Leave a Comment