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To repay the bank’s debt, Anil Ambani sold his head office to the bank itself, the deal was done for so many crores of rupees

Financial action was taken to recover the dues of about Rs 2,892 crore on Reliance Infra operated by Anil Ambani.

Anil Ambani

Anil Ambani has sold his company Reliance Infra Kha to Mumbai Head Office Yes Bank. The company issued a statement saying that Reliance Infra’s Santacruz office has been sold to Yes Bank. This deal has been done for 1200 crores rupees. According to the company’s statement, the company will repay YES Bank’s loan with these money. In fact, in July 2020, Yes Bank acquired Sibolic Possession on this headquarters. Now its official announcement has been made by Reliance Infra.

Financial action was taken to recover the dues of about Rs 2,892 crore on Reliance Infra, operated by Anil Ambani. Reliance Efra was forced to take this decision due to increasing pressure. According to the rule, if the bank takes over the building of the company, then the bank has to give notice two months in advance, which Yes Bank had already given.

Reliance Infra has so much debt

Reliance Infratel has to pay about Rs 3515 crore to the banks. In this case, Anil Ambani has the support of elder brother Mukesh Ambani. For which NCLT had brought a resolution plan for Reliance Infratel, under which Mukesh Ambani’s Reliance Industries subsidiary Jio Platforms bought Reliance Infra’s assets for Rs 4400 crore. Under this deal in December 2020, Jio has got Reliance Infra’s telecom tower and fiber assets.

The company is ready to repay the loan

According to sources, out of this, SBI will get 728 crores, Mahima Mercantile 514 crores, SC Lobby will get 511 crores, VTB Capital PLC will get 511 crores and Doha Bank will get 409 crores. Apart from this, Emirates NBD will get 322 crores, ICBC will get 278 crores and Standard Chartered Bank will get 242 crores. According to the statement, the entire amount received from the sale of Reliance Center will be used to pay the debt of Yes Bank. An official of the company said that with this Yes Bank’s debt over R Infra has come down from Rs 4,000 crore to Rs 2,000 crore. The company is committed to becoming a debt-free company by the end of 2021.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.

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