Anil Ambani continues to rise! once office seized by this bank, now pays Rs 2730000000 to…, share price surged by…

Anil Ambani’s fortunes are changing so fast. Five years ago, when Anil Ambani was unable to secure a bank loan, Yes Bank had seized the Reliance Center, the headquarters of the Anil Dhirubhai Ambani Group (ADAG) in Mumbai.

Under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, the bank had taken possession of Anil Ambani’s office. However, after five years, both the situation and circumstances have changed. Now, Anil Ambani has repaid Rs 273 crore to the same bank, making his company debt-free.

Reliance Infra Repays Loan

Reliance Infrastructure on Monday said its wholly-owned subsidiary JR Toll Road Private (JRTR) has paid the entire debt settlement amount of Rs 273 crore to Yes Bank Ltd (YBL).

Reliance Infrastructure in a regulatory filing said the agreement has also resulted in full settlement/discharge of the company’s obligation as a guarantor for the said loan on behalf of JRTR.

YBL does not hold any shares in the Company and is neither a related party nor part of the promoter group, it added.

” …we hereby inform that JR Toll Road Private Limited (JRTR), a wholly owned subsidiary of the Company has entered into an addendum to the settlement agreement today with Yes Bank Limited (YBL) for the entire outstanding debt obligation of Rs 273 crore (including interest) owed by JRTR to YBL, and has duly paid the entire settlement amount,” Reliance Infrastructure said. 

Reliance Infra Share Price Surge

After this update with the stock market, the company saw a surge in Reliance Infra shares price. Despite overall market declines, Reliance Infra’s shares rose by 1.81% to Rs 380. Over the last month, the stock has gained 20%, delivering a 77% return in the past year, and has grown ten times over five years.

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