Reliance Infrastructure's subsidiary JR Toll Road Pvt Ltd enters into settlement agreement with Yes Bank

JR Toll Road Private Limited (JRTR), a wholly owned subsidiary of the Company (along with the Company as Corporate Guarantor), has entered into an addendum to the Settlement Agreement today with Yes Bank Limited (YBL) for the entire outstanding debt obligation of ~INR 273 crore (including interest) owed by JRTR to YBL, and has duly paid the entire settlement amount.

The above 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.

Shares of Reliance Infrastructure Limited was last trading in BSE at Rs. 373.25 as compared to the previous close of Rs. 384.00. The total number of shares traded during the day was 231619 in over 4004 trades.

The stock hit an intraday high of Rs. 392.50 and intraday low of 369.00. The net turnover during the day was Rs. 88308077.00.

Source : Equity Bulls

Keywords

RelianceInfrastructure INE036A01016 CorporateGuarantor Subsidiary JRTollRoad SettlementAgreement YESBank OutstandingDebt