Reliance Capital on September 21 had said that the rating action by CARE was a completely biased, unwarranted and unjustified action on September 20, 2019
On November 15, YES Bank had invoked around 16 lakh equity shares of Reliance Capital, owned by promoter Reliance Inceptum Private Limited
Meanwhile in another filing, Reliance Capital said interest and principal obligations in regards NCD due on Monday has been delayed
Reliance Capital said the rating was downgraded even though there were no overdues on principal or interest payment to any lender
The company will be merged into Reliance General
In the past one month, the S&P BSE Sensex and S&P BSE Midcap index were up 2 per cent and 4 per cent, respectively.
Post stake-sale, Nippon Life Insurance will own 75% stake in Reliance Nippon Life Asset Management for the long term, and the rest will be owned by public, including few marquee investors
Reliance Capital said the delay in payments -- the reason of rating downgrade -- was due to technical glitch in bank servers
From Oyo eyeing fresh funds to Reliance Capital getting a downgrade from CARE Ratings, here are the top 10 business headlines for Monday
Reliance, headed by business tycoon Anil Ambani, however, said funds had been arranged by the due date and the delay was due to technical glitches in the bank's servers
Reliance Capital, which is one of the promoters of the RNAM, is selling the stake to achieve the minimum public shareholding in RNAM
At present, Reliance Capital holds 32.12 per cent stake in Reliance MF
Reliance Home Finance is also looking to wind down its book and focus on the retail segment, which is valued at about Rs 4,000 crore
The board alleged PwC chose not to attend the audit committee meeting on June 12 despite being invited and resigned abruptly
The pledging was done in favour of IDBI Trusteeship and Axis Trustee Services, who were acting on behalf of some of the creditors.
Ambani is waging a war on debt. He said on June 11 that his Reliance Group repaid Rs 350 billion in the past 14 months through asset disposals.
The company's stand-alone net debt stands at Rs 18,000 crore