Reliance ADAG committed to pay all debts: Anil Ambani

12/06/2019

new delhi: Anil Dhirubhai Ambani Group (ADAG) Chairman Anil Ambani on Tuesday said that the company is fully committed to pay all debts.
In a conference call, Ambani said that his company has repaid debt to the tune of over Rs 35,000 crore between April 2018 and May 2019, adding that these debt payments have been made by selling and monetising assets.
Ambani also lamented that he has not received any help from banks and NBFCs.
Emphasising that his company is fully committed to meet all its debt liabilities, Ambani said that he has repaid them despite financial challenges and difficulties.
It may be recalled that last month, the Supreme Court disposed of the contempt proceedings against Reliance Communication chairman Anil Ambani after he repaid Rs 453 crore to Ericsson India.
Ericsson India had signed a seven-year deal in 2014 with Reliance Communication to operate and manage the telecom network of RCom across India.
The company had filed a plea before National Company Law Appellate Tribunal (NCLAT) alleging that Anil Ambani's company had not repaid the dues of over 1,500 crore.
It had on August 3 last year allowed RCom to sell assets covering spectrum, fibre, telecom towers and certain real estate assets for an aggregate value of approximately Rs 25,000 crore.
The apex court had on October 23 last year asked RCom to clear the dues by December 15 saying that delayed payment would attract an interest of 12 per cent per annum.

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