Reliance Infrastructure Limited (Reliance Infra), a major player in India’s infrastructure sector, announced on June 23, 2025, that it has fully settled a debt of approximately ₹273 crore (including interest) owed by its wholly owned subsidiary JR Toll Road Private Limited (JRTR) to Yes Bank Limited (YBL).

The company confirmed that it, along with JRTR, entered into an addendum to the earlier Settlement Agreement to formalize the final payment, effectively discharging both JRTR’s outstanding liabilities and Reliance Infra’s corporate guarantee obligations for the same.

Final Closure of JRTR's Debt Exposure to Yes Bank

This development marks a significant step in Reliance Infra’s ongoing efforts to strengthen its financial position and reduce legacy liabilities. The ₹273 crore settlement covers:

• Principal loan amount and accrued interest owed by JR Toll Road Pvt Ltd

• Full discharge of Reliance Infrastructure’s obligation as corporate guarantor

• Elimination of any further claims or liabilities from Yes Bank related to this matter

This final resolution follows earlier disclosures made by the company on November 26, 2024, and April 1, 2025, where Reliance Infra had outlined its intention to settle the debt amicably.

Yes Bank Not a Related Party or Stakeholder

Reliance Infrastructure clarified that Yes Bank does not hold any shares in the company and is not part of the promoter group or a related party. This distinction ensures compliance with SEBI’s Regulation 30 and governance norms, and provides reassurance to shareholders about the arm’s length nature of the transaction.

Positive Signals for Investors and Stakeholders

This successful debt settlement showcases Reliance Infra’s continued focus on financial discipline, liability management, and asset monetisation. Key takeaways include:

• Improved balance sheet health by discharging contingent liabilities

• Strengthened credibility with lenders and financial institutions

• Enhanced corporate governance transparency through regular SEBI-mandated disclosures

Investors and analysts tracking the company can view this as a credit-positive development, contributing to a more favorable outlook.

Background: Reliance Infra’s Roadmap on Debt Reduction

Over the past few years, Reliance Infrastructure has undertaken a strategic restructuring plan to:

• Monetise non-core assets

• Settle old project-related liabilities

• Focus on EPC (Engineering, Procurement, and Construction) and urban infrastructure projects

The JR Toll Road debt settlement is part of this larger financial roadmap and demonstrates the company’s execution commitment.

Conclusion: A Clean Slate for JR Toll Road and Reliance Infra

With the final payment made and obligations discharged, both JR Toll Road Private Limited and Reliance Infrastructure Limited now have a clean slate with Yes Bank. This sets the stage for future project expansions, refinancing opportunities, or divestment of older infrastructure assets without legacy burdens.

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