<p>Reliance Capital on Friday reported a consolidated net loss of Rs 1,006 crore for the first quarter ended June 30.</p>.<p>The financial arm of the Reliance ADAG group, controlled by Anil Ambani, had a net loss of Rs 1,095 crore in the corresponding quarter ended of 2020-21. Sequentially, the net loss was lower as compared with Rs 1,649 crore in the March 2021 quarter.</p>.<p>The company's total income during April-June 2021 stood at Rs 4,448 crore, higher as compared with Rs 4,287 crore in the year-ago quarter, Reliance Capital said in a regulatory filing.</p>.<p>Its total expenses rose to Rs 5,261 crore, from Rs 5,249 crore a year ago.</p>.<p>The company has a presence in finance and investment business, general and life insurance, commercial finance and others.</p>.<p>"The parent company (Reliance Capital) has defaulted in repayment of its obligations to the lenders and debenture holders, against which various lenders have filed litigations," Reliance Capital said.</p>.<p>It added that the parent company has incurred losses during the current and the previous years, which indicates that material uncertainty exists that may cast a significant doubt on its ability to continue as a going concern.</p>.<p>The firm said it is in the process of meeting its obligations through a time-bound monetisation of its assets in cognisance with debenture trustee (Vistra) and debenture holders.</p>.<p>Further, the committee of debenture holders has sought expressions of interest (EOI) for submission of asset monetisation plans for certain subsidiaries/investments of the parent company.</p>.<p>"The invitation of the EOI has been issued on October 31, 2020, and accordingly, the financial results of the parent company have been prepared on a going concern basis," it added.</p>
<p>Reliance Capital on Friday reported a consolidated net loss of Rs 1,006 crore for the first quarter ended June 30.</p>.<p>The financial arm of the Reliance ADAG group, controlled by Anil Ambani, had a net loss of Rs 1,095 crore in the corresponding quarter ended of 2020-21. Sequentially, the net loss was lower as compared with Rs 1,649 crore in the March 2021 quarter.</p>.<p>The company's total income during April-June 2021 stood at Rs 4,448 crore, higher as compared with Rs 4,287 crore in the year-ago quarter, Reliance Capital said in a regulatory filing.</p>.<p>Its total expenses rose to Rs 5,261 crore, from Rs 5,249 crore a year ago.</p>.<p>The company has a presence in finance and investment business, general and life insurance, commercial finance and others.</p>.<p>"The parent company (Reliance Capital) has defaulted in repayment of its obligations to the lenders and debenture holders, against which various lenders have filed litigations," Reliance Capital said.</p>.<p>It added that the parent company has incurred losses during the current and the previous years, which indicates that material uncertainty exists that may cast a significant doubt on its ability to continue as a going concern.</p>.<p>The firm said it is in the process of meeting its obligations through a time-bound monetisation of its assets in cognisance with debenture trustee (Vistra) and debenture holders.</p>.<p>Further, the committee of debenture holders has sought expressions of interest (EOI) for submission of asset monetisation plans for certain subsidiaries/investments of the parent company.</p>.<p>"The invitation of the EOI has been issued on October 31, 2020, and accordingly, the financial results of the parent company have been prepared on a going concern basis," it added.</p>