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Resolution of RCF and RHF to reduce Reliance Capital debt by 50%: Anil Ambani
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Resolution of two lending business to reduce Reliance Capital debt by 50%: Anil Ambani
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Bank of Baroda back in back; logs ₹1,209-crore profit in Q1 - The Hindu BusinessLine
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The Board of Directors of Reliance Commercial Finance (RCF) took note of the resolution plan approved by the Lenders forming part of the Inter-Creditor Agreement (ICA Lenders) under RBI s Prudential Framework for Resolution of Stressed Assets, Directions dated 07 June 2019 (RBI Directions).
RCF is a wholly owned subsidiary of Reliance Capital.
Lenders selected Authum Investment and Infrastructure (Authum) as the successful Bidder to acquire the Company and/or all its assets through a competitive bidding process after several rounds of negotiations between the bidders and the Lenders.
The implementation of the resolution plan by the successful bidder is subject to approval of non-ICA Lenders, shareholders, regulatory authorities and, vacation of existing legal injunctions on the Company.
Reliance Capital rose 1.75% to Rs 20.30 after the board of directors of Reliance Commercial Finance (RCF) took note of the resolution plan approved by the lenders.RCF is a wholly owned subsidiary of Reliance Capital.
Lenders, forming part of the Inter-Creditor Agreement (ICA Lenders) under RBI s Prudential Framework for Resolution of Stressed Assets, selected Authum Investment and Infrastructure (Authum) as the successful bidder to acquire the company and/or all its assets through a competitive bidding process after several rounds of negotiations between the bidders and the lenders.
Authum s debt resolution plan is approved under RBI s Prudential Framework for Resolution of Stressed Assets, Directions dated 7 June 2019 (RBI Directions).