Reliance Communications discloses Loan Default of Rs.28,826 Crore

Reliance Communications has disclosed a huge loan default of Rs.28,826 crore. The company has revealed total financial indebtness of Rs.40,410 crore.

Sr.	Type of disclosure	Rs in crore
1	Loans / revolving facilities like cash credit from banks / financial institutions
A	Total amount outstanding as on date	28,826
B	Of the total amount outstanding, amount of default as on date	28,826
2	Unlisted debt securities i.e. NCDs and NCRPS
A	Total amount outstanding as on date	–
B	Of the total amount outstanding, amount of default as on date	–
3	Total financial indebtedness of the listed entity including short-term and long-term debt	40,410

Above does not include interest of Rs. 33,694 crore on loans from banks/ financial institutions and Rs 3,571 crore on NCDs which is not provided for in the financial statements.

Reliance Communications Limited is under corporate insolvency resolution process pursuant to the provisions of the Insolvency and Bankruptcy Code, 2016. With effect from June 28, 2019, its affairs, business and assets are being managed by, and the powers of the board of directors are vested in, the Resolution Professional, Mr. Anish Niranjan Nanavaty, appointed by Hon’ble National Company Law Tribunal, Mumbai Bench, vide order dated June 21, 2019 which was published on the website of the Hon’ble National Company Law Tribunal, Mumbai Bench on June 28, 2019.