Reliance Capital failed to pay interest in the amount of 48 5.48 crore on term loans from HDFC and Axis Bank.
The interest due for HDFC was 4.77 kroner and for Axis Bank 0.71 kroner.
The principal amount for HDFC was SEK 523.98, while for Axis Bank it was SEK 100.63, Reliance Capital said in a regulatory report. The default date was March 31, 2021.
Reliance Capital said that the total amount of outstanding loans with banks and financial institutions is 716.65 kroner and includes accrued interest until March 31, 2021.
The total financial indebtedness of the company, including short-term and long-term debt, amounted to 20,785.04 kroner. The troubled company failed to pay interest on NCDs last week due on March 28th and 29th.