Lenders extend ICA for Reliance Home Finance resolution till March 2021
Reliance Home Finance, part of Anil Ambani-promoted Reliance Group, recently got bids from six suitors as part of the debt resolution process
PTI | December 29, 2020 | Updated 15:42 IST
Lenders to troubled mortgage firm Reliance Home Finance (RHF) have extended the inter-creditor agreement (ICA) for another three months.
Reliance Home Finance, part of Anil Ambani-promoted Reliance Group, recently got bids from six suitors as part of the debt resolution process. The lenders of the company forming part of the Inter creditor Agreement (ICA), executed pursuant to the Reserve Bank of India (RBI) circular dated June 7, 2019 on Prudential Framework for Resolution of Stressed Assets, have extended the ICA period till March 31, 2021, the company said in a regulatory filing.
Lenders extend ICA for Reliance Home Finance resolution till March 31
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Last Updated: Dec 29, 2020, 11:59 AM IST
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As per June 7 circular of the RBI, lenders can extend the time period of the pact if an account has not been resolved within 180 days of signing ICA.
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Lenders have decided to further extend the bidding timeline till January 31, 2021, in order to accommodate the four non-compliant bidders, sources added.
New Delhi: Lenders to troubled mortgage firm
Reliance Home Finance (RHF) have extended the inter-creditor agreement (ICA) for another three months. Reliance Home Finance, part of Anil Ambani-promoted Reliance Group, recently got bids from six suitors as part of the debt resolution process.
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6 suitors submit bids for acquiring Reliance Home Finance financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
India: ARCIL, Authum among five bidders for Reliance Home Finance
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Lenders to Reliance Home Finance Ltd, part of the debt-ridden Anil Dhirubhai Ambani Group (ADAG), have received bids from five entities, two bankers aware of the matter said. Asset Reconstruction Co. India (Ltd) (ARCIL) and Authum Investment & Infra Ltd are among those who have submitted bids for all or some assets of the company, the bankers said on condition of anonymity.
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