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Reliance Company observes a steady rise in it’s financial debt amidst ongoing dispute with SEBI.

Mukesh Ambani headed Reliance Ltd. saw a steady rise in its debt and the amount it owes to HDFC Ltd. and Axis Bank is at a significant height adding on to its financial indebtness.

As per Reliance Capital Ltd., the company’s outstanding debt amount stood at ₹20,379.71 crores by the last month of 2020. As of August 31, 2020 the amount was ₹19,805.7 crores (includes interest).

The total financial debt (involving both short term and long term debt, accrued interest) was calculated to be ₹20,379.71 crore as of December 31, 2020. 

The company owes ₹523.98 crore to HDFC Ltd. and ₹100.63 crore to Axis Bank. 

Thereby, summing up all the outstanding money borrowed from banks it leads to an amount of ₹700.76 crore, taking into consideration records uptill December 31,2020.

As per Reliance Home Finance, the outstanding debt stood at ₹13,000 crore. The sun total of financial indebtedness (including principal and interest) rose to ₹12,943 crore by the end of December 2020.

Recently, market regulator SEBI had penalised Reliance for ₹447 Crore plus interest to be paid within the following 45 days. The Company on the other hand had planned to dispute the order. Through a written and verbal submission before SEBI, Reliance stated its actions to be ‘hedging’, in an attempt to justify it’s scheme.

Khushi

Khushi is an avid reader and loves analyzing companies in the digital space. Her interest is in online marketing, business, startups, and politics. She does everything perfectly by taking extra time.
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