Mumbai Police are probing allegations that Reliance Home Finance diverted bank funds after securing loans using misleading financial documents, according to a complaint filed by Axis Bank.
Income from interest also plunged to Rs 170.94 crore from Rs 424.22 crore earlier.
The ICA holds importance as it signals that banks are still hopeful about a possible resolution for RHF.
The debt-ridden company had posted a loss of Rs 110 crore in the same period a year ago, the company said in a regulatory filing.
'The extension of maturity has been made purely to address timing mismatches in receipt of proceeds from the ongoing monetisation of retail asset pools of the company.'
Reliance Home Finance Ltd (RHFL) on Tuesday said it closed last fiscal with 46 per cent increase in its total…
Reliance Home Finance Ltd on Monday said it closed the quarter ended on September 30, 2017 with net profit…
