Reliance Capital has informed that the Company is fully current on all its principal and interest repayments as on date. The Company made a stock exchange filing on September 11, 2019 stating that the interest payment for NCDs which was due on September 9, 2019 was duly activated on the due date, but the same could not go through owing to technical glitch in bank servers on that date, and the payment went through on the very next bank working day; September 11, 2019. These facts were also confirmed by the Company's lenders who had provided financing for the above-mentioned payments. Despite the above facts, Brickwork has downgraded the rating to BWR D for the company's secured NCDs program, market linked debentures and subordinated debt of the Company, due to the alleged delay in payment of interest by one day.
The above information is a part of company’s filings submitted to BSE.
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