Reliance Capital: Financial debt of ₹ 1755 crore on Reliance Capital, disclosed in the report

Reliance Capital Loans 2022: An important report is coming out about Reliance Capital, the company of Indian businessman Anil Ambani. It is being told in this report that a financial burden of Rs 1,755 crore is going on on Reliance Capital.

so much debt
According to this report, Reliance Capital is moving towards bankruptcy process. Reliance Capital has given a lot of loans to its different units in the financial year 2019-20, due to which Reliance Capital has a debt of more than Rs 1,755 crore today. If market experts are to be believed, such a situation has arisen today in the affair of distributing loans.

View What’s Report
Let us tell you that there have been many disclosures in the transaction auditor report submitted to the administrator of Reliance Capital, which is facing insolvency process. The administrator of Reliance Capital, appointed under the Insolvency and Bankruptcy Code-2016, has taken the assistance of transaction auditor BDO India LLP (LLP) to investigate matters relating to the company’s transactions.

application filed
According to Reliance Capital, based on the comments of the transaction auditor, the administrator has filed an application regarding payment to a total of 7 companies before the Mumbai Bench of the National Company Law Tribunal (NCLT) on 22 October.

See who is on loan
According to the report, Rs 1,142.08 crore to Reliance Entertainment Network, Rs 203.01 crore to Reliance Unicorn Enterprises, Rs 162.91 crore to Reliance Big Entertainment (RBEPL), Rs 162.91 crore to Reliance Broadcast Network (RBEPL). Broadcast Network) has given Rs 13.52 crore. At the same time, a loan of Rs 39.30 crore to Reliance Alpha Services and Rs 17.24 crore to Zapak Digital Entertainment-Zapak has also affected Reliance Capital.

Time till 31st January 2023
The NCLT has extended the deadline for the debt resolution process of debt-ridden Reliance Capital till January 31, 2023. Earlier its deadline was till November 1, 2022. But the resolution process has been extended for the third time. Even before this the deadline had been extended twice.

The company will be divided into 4 parts
Let us tell you that a proposal has been made to divide Reliance Capital into 4 parts. The company’s administrator has proposed to split the company into 4 Core Investment Companies (CICs). This will completely change the structure of the company. The bidding process for this company is going on in the advanced stage. Four companies are in competition to buy Reliance Capital’s General Insurance and Life Insurance Ventures.

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