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Reliance Capital share price falls for the 7th day, touches all-time low on payment default

In a BSE filing on March 2, the company said it defaulted on the interest payment of Rs 5.47 crore on a term loan on January 31, 2020 due to HDFC (Rs 4.76 crore) and Axis Bank (Rs 0.71 crore).

March 03, 2020 / 04:11 PM IST
 
 
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Reliance Capital share price fell for the seventh consecutive session, as the stock declined 3.72 percent on BSE on March 3.

The stock hit its all-time low of Rs 6.15 in intraday trade today.

A day earlier, the company told the BSE that it defaulted on the interest payment of Rs 5.47 crore on a term loan on January 31, 2020 due to HDFC (Rs 4.76 crore) and Axis Bank (Rs 0.71 crore).

The delay in servicing debt was due to the company being barred from selling off assets by a November 20, 2019 Delhi High Court order, it said.

Besides, the debt recovery tribunal in on December 3, 2019, also prohibited the company from transferring, alienating, encumbering or otherwise parting with its assets.

Moneycontrol News
first published: Mar 3, 2020 11:24 am

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