Reliance Capital shares were locked in 5 percent lower circuit on November 20 after the company delayed payment of interest on non-convertible debentures.
The payment interest/ principal obligations on the non-convertible debenture due on November 18, 2019, had been delayed, the company said in a press release.
The company's shareholding in its wholly owned subsidiary, Reliance General Insurance Company (RGIC), has been transferred to IDBI Trustee Services Limited, upon invocation of pledge by the Trustee, the company said in another release.
The company was trying to monetise its shareholding in RGIC as part of its plan for debt reduction.
The company would take all appropriate steps in the matter as legally advised to protect the interests of its lenders and other stakeholders, it added.
There were pending sell orders of 137,672 shares, with no buyers available.
At 0940 hours, Reliance Capital was quoting at Rs 18.05, down Rs 0.95, on the BSE.
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