Reliance Home Finance Ltd (RHFL) on Saturday said it has defaulted on loan of over Rs 40 crore from Punjab & Sind Bank even as the company has enough cash and cash equivalent which it cannot use due to a court order. The Anil Ambani-controlled Reliance Capital s subsidiary defaulted on loan on February 15, 2021, and the current amount of default is Rs 40 crore alongside an interest of Rs 15 lakh. The company s total obligation is of Rs 200 crore on a 5-year tenure secured term loan at 9.25 per cent per annum from Punjab & Sind Bank, RHFL said in a regulatory filing. The company has net cash (including cash equivalent, liquid mutual fund investments, fixed deposits etc) of more than Rs 1,500 crore, it said.
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Lenders have decided to offer a treat to home buyers by slashing interest rates and trying to offer lower interest rates. But these banks are offering lower interest rates only till March 31.
While State Bank of India (SBI) offers home loan interest rates as low as 6.70 per cent for loans up to Rs 75 lakh and 6.75 per cent for loans in the range of Rs 75 lakh to Rs 5 crore, Kotak Mahindra is offering home loans for 6.65 per cent. The private bank is offering loans at a cheaper rate compared with the state-run largest lender in the country. However, the customers of the banks can start availing of this offer, but the validity period to apply for this end on March 31 (end of the financial year 2022-2021).
On March 1, the national debt surged above $28 trillion for the first time.When Donald Trump took office, the national debt was just under $20 trillion.
JAMMU: The Anti-Corruption Bureau (ACB) of Jammu Police on Saturday registered an FIR in the multi-crore loan default case involving Jammu & Kashmir Cooperative Housing Corporation Ltd (JKCHC), whereby large amounts of the loan were diverted and state land encroached and sold illegally.
Searches were conducted in this regard and incriminating documents and articles recovered from the residence of then MD of JKCHCL Brij Bhushan Sharma.
In a written statement, an ACB spokesperson said that a preliminary enquiry was registered based on a complaint received from the GAD J&K to look into allegations of J&K Cooperative Housing Corporation.
“JKCHC had defaulted in repayment of loan amount amounting to more than Rs 40 crore raised from HUDCO. J&K government was the guarantor and 70% of the capital was owned by the government,” a police spokesperson said. The complaint revealed as of July 26, 2017, an amount of Rs 90 crore including interest was outstanding against the corporation.
Deal worth about 400 mln euros - sources Prelios, Apollo and Apax among other suitors - sources Deal seen as prelude to full takeover of Cerved - sources
MILAN, March 6 (Reuters) - Italian credit group Cerved
is in advanced talks with U.S. investment firm
Centerbridge to clinch the long-awaited sale of its debt
collection arm which is valued at about 400 million euros
, two sources told Reuters.
The unit has also drawn interest from Italian real estate
and credit management firm Prelios and other private equity
funds including Apollo and Apax, the sources said, speaking on
condition of anonymity.
Centerbridge is the frontrunner in the discussions and could