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Reliance Housing Finance resolution likely to hit barrier due to Shapoori Pallonji Group s HC stay in 2019

ET Banking/Finance NEWS Powered by Reliance Housing Finance resolution likely to hit barrier due to Shapoori Pallonji Group s HC stay in 2019 SECTIONS Reliance Housing Finance resolution likely to hit barrier due to Shapoori Pallonji Group s HC stay in 2019PTI Last Updated: Mar 01, 2021, 11:00 PM IST Share Synopsis As per the stay obtained by SP Group, RHFL is prohibited from disposing, alienating, encumbering either directly or indirectly or otherwise part with the possession of any its assets, thus directly impacting the ongoing debt resolution. Getty Images Even as Reliance Housing Finance has got attractive bids under the corporate resolution plan that is in final stages, there could be barrier on a speedy resolution as the Shapoori Pallonji Group had in 2019 got an stay from the Delhi HC against the company to sell its assets, according to sources. Anil Ambani-controlled Reliance Home Finance Ltd (RHFL) is at the final stages of the

Four bidders in the final race for Reliance Home assets - The Hindu BusinessLine

Four bidders in the final race for Reliance Home assets January 27, 2021 acre, ares ssg, Capri Global, Kotak Special Situation Fund, avenue capital Assets Care & Reconstruction Enterprise Ltd (ACRE) along with Hong Kong-based private equity Ares SSG, Capri Global, Kotak Special Situation Fund and Us-based investment firm Avenue Capital are among the four bidders that remain in the final to acquire Reliance Home Finance Limited (RHFL) Avenue Capital has partnered Asset Reconstruction Company (India) Limited for the bid. While lenders favour proposals for the entire company, Capri Global is understood to have emerged as the highest bidder for the retail assets of RHFL.

Reliance Home Finance: Kotak Fund, Arcil, 4 others among bidders for Reliance Home Finance

Explore Now Mumbai: Kotak Special Situations Fund (KSS), Asset Reconstruction Company (India) Ltd (Arcil) and Acre ARC are among six bidders that have expressed interest to buy the debt-laden Reliance Home Finance (RHFL), multiple people familiar with the process told ET. Lenders led by Bank of Baroda (BoB) are seeking buyers for the debt-laden company through an inter-creditor agreement outside the Insolvency and Bankruptcy Code (IBC). “Asset reconstruction companies are taking the lead in bids since a majority of loans by this company are to retail investors through affordable home loans, small builders or loans against properties which will require use of the power of the Sarfaesi Act to recover the advances as retail loans are not covered by IBC,” said one of the persons cited above.

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