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Authum Investment & Infrastructure Ltd emerges successful bidder in acquisition of Reliance Commercial Finance Ltd
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Efficient execution and implementation of IBC can escalate Ease of Doing Business ranking: Bhupender Yadav
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The Indian lenders led by Bank of Baroda have started voting on the highest bidder for Reliance Home Finance on May 31 and will select the highest bidder by June 15. Global fund ARES SSG, along with Assets Care & Reconstruction Enterprise Ltd, Authum Infrastructure and Investment Ltd (a domestic NBFC), Avenue Capital and ARCIL, Capri Global Capital Limited have made the bids for the company. The present debt resolution is under the June 7, 2019 circular of Reserve Bank of India (Prudential Framework for Resolution of Stressed Assets) Directions 2019 and the lenders of RHFL have entered into an Inter Creditor Agreement for debt resolution of the housing finance company.
May 24, 2021
Samuel Joseph J, Deputy Managing Director, IDBI Bank×
We’ve utilised the prompt corrective action period to change our business mix and strengthening of balance sheet.
During the four years that IDBI Bank was under prompt corrective action (PCA), it transformed itself from a predominantly corporate bank to a retail bank. And the Bank, which exited PCA on March 10, 2021, would like to keep it that way, according to Samuel Joseph J, Deputy Managing Director. In an interaction with
BusinessLine, he emphasised that it had aggressively accelerated provisioning, over and above the regulatory requirement, in the past to strengthen its balance sheet. So, write back to profits in the next two to three years, whenever the recovery from stressed assets happens, will be about ₹7,500 crore. Excerpts:
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