Reliance Commercial Finance (RCFL), a company promoted by Anil Ambani, was punished by India’s capital markets regulator for breaking disclosure rules.
According to the Securities and Exchange Board of India (SEBI), the four letters were sent by the debenture trustee Vistra ITCL and provided details on various RCFL failures to make interest and principal payments due to debenture holders.
According to Sebi, the company made its first default on October 13, 2019. The examination period was between April 1, 2019, and March 31, 2020.
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