The payments were due on Wednesday and Thursday, the company said in regulatory filing.
SK Growth Fund acquired 2,45,459 shares of newly listed Vishwaraj Sugar Industries at Rs 60.35 per share.
The company will continue to operate without any change in structure and management
Ambani said factors like rumour mongering and reckless selling in the last six months caused collateral damage in his NBFC
The entire RNAM stake monetisation proceeds of Rs 6,200 crore will be utilised to reduce Reliance Capital's outstanding debt obligations.
The embattled Anil Dhirubhai Ambani group had decided to exit the mutual funds business with an eye on debt reduction.
The stock has seen a steady decline in the last one year with the stock falling over 90 percent.
The index is just 25 points away from turning negative for the year 2019, and has fallen 4,219 points or little over 10 percent from its record high of 40,312 registered in June 2019.
The clarification comes following a report suggesting that Reliance Capital has pledged 22 per cent of its stake in RNAM.
Reliance Capital, which is one of the promoters of the RNAM, has an option to sell an additional a little over 1.93 crore shares in case of over-subscription, RNAM said in regulatory filing
Nippon Life floated open offer to acquire nearly 22.49 percent stake in RNAM for Rs 3,179 crore under a deal with Reliance Capital which is exiting the mutual funds business.
Total assets of Reliance Capital stood at Rs 79,207 crore as on June 30, 2019 as against Rs 83,973 crore a year ago
Reliance Capital expects to reduce its debt at least by Rs 12,000 crore, or 70 percent in the current financial year
According to the resignation letter, PwC cited Section 143(12) of the Companies Act in support of their move.
The ADAG company in an exchange release said the observations of the auditor were "baseless and unjustified", further accusing PWC of acting "prematurely" without statutory discussions with the Audit Committee of the company.
In a letter to Reliance Capital, PwC said it felt compelled to withdraw from the audit of the company's fiscal year 2018/19 accounts after not receiving "satisfactory response" to its queries.
Here are some companies that saw their auditors quit over controversial issues
Reliance Capital and Reliance Home Finance further said they do not agree with the reasons given by PWC for the resignation
"Reliance Capital has exercised the “Green-Shoe” option and will sell over 8 percent of its shareholding in RNAM through OFS aggregating approx Rs 1,100 crore," the Anil Ambani-led company said in an exchange release.
Reliance Capital will receive proceeds of approximately Rs 6,000 crore through sale of its shareholding to Nippon Life Insurance at Rs 230 a share, and the simultaneous Offer For Sale (OFS) to other financial investors.
The company's asset monetisation plan is on track, it said, adding, it is in the process of monetising its entire 42.88 per cent stake in Reliance Nippon Life Asset Management Limited, which at current market price is valued at over Rs 5,000 crore.
At least two entities in the group, Reliance Commercial Finance and Reliance Home Finance, have witnessed rating downgrades on their borrowings earlier this month, which led to the Reliance Capital stock coming under pressure.
The regulator said the insurers with exposure to Anil Ambani-run Reliance Capital's subsidiaries--Reliance Home Finance and Reliance Commercial Finance--will have to make provisions for debt of these companies which were downgraded by Care Ratings last month.
The rating for long term debt program was downgraded to Care D from Care BBB+ due delays in debt servicing. It fell by over 15% to record its worst fall since October 2018.