Debt financing

Piramal Capital initiates bankruptcy proceedings against RNRL over Rs.526-Cr loan default

Business Line  

Piramal Capital and Housing Finance Ltd has initiated bankruptcy proceedings against the beleaguered Anil Ambani group company Reliance Power and its subsidiary Reliance Natural Resources (RNRL) which had merged with Reliance Power. RNRL had defaulted on a loan of INR 526.10 crore, obtained from the erstwhile Dewan Housing Finance Corporation Ltd (DHFL). The Piramal Group had acquired DHFL last year and PCHFL had been merged with DHFL.

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