All debt obligations of Reliance Group will be met: Anil Ambani

Mumbai: Anil Ambani, chairman of Anil Dhirubhai Ambani Group (ADAG), said on Tuesday that the group was fully committed to meeting all its future debt servicing obligations in a timely manner through asset sales that are already at various stages of implementation.

He said that the group has already serviced debt of ₹35,000 crore to its various lenders in the past 14 months, including ₹24,800 crore in principal payments and ₹10,600 crore in interest payments. Going forward, the group will become capital light, with minimum debt and high equity, he added. The servicing of the debt was made through monetization of assets of Reliance Capital Ltd, Reliance Infrastructure Ltd and Reliance Power Ltd, he said. “All these sales have been made against insurmountable odds,” said Ambani, while addressing reporters in a conference call on Tuesday.