Reliance Capital hits 5% lower circuit after asset sale restriction

Shares of Reliance Capital hit a 5% lower circuit on the BSE in the noon trade, as the company announced that the Hon’ble Delhi High Court in the matter of OMP(I) COMM. 419 of 2019 has passed an order placing restrictions on any sale, disposal or creation of any encumbrance on any assets of the Company, which inter-alia include the company’s 4.28% shareholding in Reliance Nippon Life Asset Management, till December 16, 2019. The formal order of the Hon’ble Delhi High Court is awaited.

The company shall take all appropriate steps in the matter as legally advised including to file an appeal against the said order to protect the interests of its lenders and other stakeholders.

Reliance Capital Ltd is currently trading at Rs17.15, down by Rs0.9 or 4.99% from its previous closing of Rs18.05 on the BSE.

The scrip opened at Rs17.15 and has touched a high and low of Rs18.80 and Rs17.15 respectively.

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