Religare Finvest to default on Rs 100 crore NCD payment obligation
Religare Finvest to default on Rs 100 crore NCD payment obligation SECTIONS Last Updated: Apr 14, 2021, 09:49 PM IST Share Synopsis NBFC firm Religare Finvest Limited (RFL) had borrowed Rs 100 crore from Axis Bank by placing non-convertible debentures (NCDs) on a private placement basis in September 2015. The bonds, bearing a coupon of 10.68 per cent per annum, are set for maturity on April 30, 2021, Religare Enterprises Ltd (REL) said in a regulatory filing. Agencies The company has been in financial distress, primarily due to the alleged misappropriation of funds by erstwhile promoters Shiv...
Source: indiatimes.com