Reliance Home Finance : Defaults on Payment of Interest/Principal

	May 20, 2022
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,	Exchange Plaza, 5th Floor, Plot No. C/1,
Dalal Street, Fort,	G Block, Bandra Kurla Complex,
Mumbai 400 001	Bandra (East), Mumbai 400 051
BSE Scrip Code: 540709	NSE Scrip Symbol: RHFL
Dear Sir(s),

Sub.: Disclosure in terms of SEBI Circular No. SEBI / HO / CFD / CMD1 / CIR / P / 2019 / 140 dated November 21, 2019

As informed earlier, due to sudden adverse developments in the financial services sector post the IL&FS crisis and its adverse impact on the liquidity position of majority of the Non-banking and housing finance companies, the Company was adversely impacted resulting in liquidity mismatch and severe financial stress on account of which it was not in a position to services its dues to the lenders.

Pursuant thereto, certain Lenders of the Company (Banks and other Financial Institutions) have entered into an Inter-Creditor Agreement (ICA) for arriving at the debt resolution plan in accordance with the circular dated June 7, 2019 issued by the Reserve Bank of India on Prudential Framework for Resolution of Stressed Assets. As informed earlier, Lenders have selected Authum Investment and Infrastructure Limited as the successful Bidder to acquire the Company and / or all its' assets through a competitive bidding process after several rounds of negotiations between the bidders and the Lenders. The implementation of the resolution plan by the successful bidder is subject to approval of non-ICA Lenders, shareholders, regulatory authorities and, vacation of existing legal injunctions on the Company. As informed, a Meeting of the Debenture Holders of Reliance Home Finance Limited had been called by IDBI Trusteeship Services Ltd. (Debenture Trustee) on May 13, 2022, for consideration and approval of the Resolution Plan alongwith the Distribution Mechanism approved by ICA Lenders on June 19, 2021 and pursuant to the Order dated May 10, 2022 issued by the Hon'ble High Court of Judicature at Bombay, the results of the voting of the Meeting shall be placed before the Hon'ble Court in a sealed envelope.

Further, the Company is prohibited to dispose off, alienate, encumber either directly or indirectly or otherwise part with the possession of any assets, pursuant to Order dated November 20, 2019 passed by the Hon'ble Delhi High Court in the matter of OMP(I) COMM. 420/2/019.

We enclose herewith the disclosure in terms of SEBI Circular No. SEBI / HO / CFD / CMD1 / CIR / P / 2019

• 140 dated November 21, 2019. Thanking you.

Yours faithfully,

For Reliance Home Finance Limited

Parul Jain

Company Secretary & Compliance Officer

Encl.: As Above.

Reliance Home Finance Limited

Registered Office: The Ruby, 11th Floor, North-West Wing, Plot No. 29, Senapati Bapat Marg, Dadar (West), Mumbai 400 028

T [phone] / F [phone], E-mail: [e-mail], Website: www.reliancehomefinance.com

Customer Service: T [phone] / E-mail: [e-mail]

CIN: L67190MH2008PLC183216

A RELIANCE CAPITAL COMPANY

Disclosure in terms of SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21, 2019

Sr.	Type of				Details
No.	disclosure
1	Name	of	the		Reliance Home Finance Limited
	Listed entity
2	Date	of	making		20-May-22
	the disclosure
3	Nature		of		Term Loan / CC / WCDL
	obligation
4	Date of default		30-Apr-22
5	Name	of	the		Refer Sr. No. 7 below
	Lender(s)
6	Current	default		Principal - NIL
	amount (break-up		Interest - Refer Sr. No. 7 below
	of principal	and
	interest	in	INR
	crore)
7	Details	of	the		Name of	Current	Details of the Obligation
	obligation	(total		lender	Interest /
	Total	Tenure	Interest
	principal	amount			Accrued
			Principal		Rate
	in	INR		crore,			Interest
				Amount
	tenure,	interest			default
			(Rs. in
	rate,						amount
						crore)
							(Rs. in crore)
						Andhra Bank	0.87	450	4-5 years	8.25%
						Axis Bank	0.31	60	3 months	9.80%
						Bank of Bahrain	0.07	30	2 years	10.55%
						and Kuwait
						Bank of Baroda	3.78	750	5 years	9.05 - 9.70
										%
						Bank of India	1.88	350	5 years	9.15%
						Canara Bank	1.92	360	Annual	10-13.95%
									Review-5
									years
						Dena Bank	3.60	600	5 years	9.20%
						(BOB)
						HDFC Bank Ltd	0.34	160	3-5 years	8.75%

Reliance Home Finance Limited

Registered Office: The Ruby, 11th Floor, North-West Wing, Plot No. 29, Senapati Bapat Marg, Dadar (West), Mumbai 400 028

T [phone] / F [phone], E-mail: [e-mail], Website: www.reliancehomefinance.com

Customer Service: T [phone] / E-mail: [e-mail]

CIN: L67190MH2008PLC183216

A RELIANCE CAPITAL COMPANY

Sr.	Type of		Details
No.	disclosure
			ICICI Bank	0.57	300	5 years	10.50%
			Indian Bank	0.92	150	5 years	9.35%
			Karnataka Bank	0.14	50	5 years	8.75%
			Punjab & Sind	3.77	700	5-7 years	9.15-9.25%
			Bank
			Punjab National	0.92	200	5 years	13.95%
			Bank
			State Bank of	0.56	100	5 years	17.00%
			Bikaner and
			Jaipur (SBI)
			State Bank of	0.28	100	5 years	17.00%
			Hyderabad
			(SBI)
			State Bank of	0.56	100	5 years	17.00%
			Patiala (SBI)
			Syndicate Bank	2.42	300	5 years	9.80%
			(Canara Bank)
			Federal Bank	1.15	200	35 months-	14.00%
			Ltd.			3 years
			Jammu and	0.45	150	5 years	9.10%
			Kashmir Bank
			Limited
			UCO Bank	1.43	200	7 years	8.70%
			United Bank of	1.30	650	4-5 years	9.05%
			India
			Vijaya Bank	0.64	125	1-5 years	10-10.50%
			(BOB)
			Axis Bank	0 (2,471)	40	Annual	9.45%
						Review
			Bank of Baroda	0.73	100	5 years	9.90%
			Canara Bank	0.69	40	Annual	13.95%
						Review
			Punjab & Sind	0.98	100	Annual	9.15%
			Bank			Review
			Jammu and	0.59	50	Annual	11.10%
			Kashmir Bank			Review
			Limited
			The Lakshmi	0.82	50	Annual	14.00%
			Vilas Bank			Review

Reliance Home Finance Limited

Registered Office: The Ruby, 11th Floor, North-West Wing, Plot No. 29, Senapati Bapat Marg, Dadar (West), Mumbai 400 028

T [phone] / F [phone], E-mail: [e-mail], Website: www.reliancehomefinance.com

Customer Service: T [phone] / E-mail: [e-mail]

CIN: L67190MH2008PLC183216

A RELIANCE CAPITAL COMPANY

Sr.	Type of	Details
No.	disclosure
	secured	/ Secured
	unsecured etc.)

8 Total amount of Rs. 4,853.75 crore outstanding

borrowings from Banks / financial institutions (in INR crore)

9	Total	financial Rs. 14,378.14 crore
	indebtedness of
	the	listed	entity
	including	short-
	term	and	long-
	term debt (in INR
	crore)

Reliance Home Finance Limited

Registered Office: The Ruby, 11th Floor, North-West Wing, Plot No. 29, Senapati Bapat Marg, Dadar (West), Mumbai 400 028

T [phone] / F [phone], E-mail: [e-mail], Website: www.reliancehomefinance.com

Customer Service: T [phone] / E-mail: [e-mail]

CIN: L67190MH2008PLC183216

A RELIANCE CAPITAL COMPANY