The company is a unit of Reliance Capital, Ambani's financial services arm. A spokesman at Reliance Capital declined to comment while a representative for Hero FinCorp didn't respond to an email and phone calls seeking comment. Reliance Capital earlier this month protested a three-step downgrade by Care Ratings to its credit score, saying the rating company didn't fully factor in the impact of its plan to raise more than 100 billion rupees via asset sales and cut overall debt by more than half this financial year.