Anil Ambani on Tuesday said his group companies would meet all its future debt obligations as he envisaged the companies under him to have a capital-light structure with bare minimum liabilities after its current asset monetisation exercise in companies such as Reliance Capital is over. These steps, he added, will transform the group to a capital light entity with bare minimum debt and high return on equity (RoE). He said not a single category of lender — banks, mutual funds, insurance companies, provident fund and non-banking finance companies — provided any support, though Reliance Anil Dhirubhai Group (RADAG) was paying off its debt. “The debt serving payment had to be made almost entirely from asset monetisation despite a liquidity starved environment... in an operating environment beset by procedural and regulatory hurdles,” he said. “Despite the continuing total apathy and lack of any support whatsoever from the financial system which only hurt the interest of lenders themselves and other stakeholders, the Reliance group demonstrated its bonafides in no uncertain manner.”

Source: The Telegraph June 11, 2019 19:18 UTC