Reliance Home Finance

Srei Infrastructure Finance and Srei Equipment Finance were admitted for bankruptcy following applications filed by the Reserve Bank of India in October 2021

RCap insolvency: Will creditors lose out in the resolution?

Monday was the last day for submission of bids for Reliance Capital assets sale after five deadline extensions. So, what is in the store for the lenders and other stakeholders, let us find out

The proceeds of the sale of these two companies in future will flow directly to the lenders of the Reliance Capital which is currently undergoing a bankruptcy process

Debt-laden Reliance Home Finance (RHFL) on Friday reported ballooning of its net loss to Rs 4,522.19 crore for the quarter ended March 2022.

Stock market regulator Securities and Exchange Board of India (SEBI) restrained Reliance Home Finance, it's promotor Anil Ambani and three others from buying, selling or dealing in securities, either directly or indirectly, in any manner whatsoever until further orders.Anil Ambani and others are also restrained from associating themselves with any intermediary registered with SEBI, any listed public company or acting as Directors/promoters of any public company which intends to raise money from the public, till further orders, SEBI said in its interim order issued on Friday late evening.Interim order issued by S K Mohanty, Whole Time Member of SEBI says that the root of the present proceedings can be traced to multiple sources inter alia, a letter of Price Waterhouse & Co. ("PWC") addressed to Reliance Home Finance Limited (RHFL) intimating their resignation as the Statutory Auditor of the Company citing various grounds & reasons.Certain complaints received by Securities ..

Three debt schemes see rise in NAVs of 2-14%

RHF on Monday took note of a resolution plan approved by lenders under the Reserve Bank of India's (RBI's) prudential framework for resolution of stressed assets

The resolution will help parent company Reliance Capital Ltd prune its debt by 25 per cent to Rs 11,200 crore

subsidiary of Reliance Capital, the firm had defaulted on Rs 11,000 crore of loans and lenders had sought bids from investors

The voting to choose the bidder will end on June 25 and resolve another Rs 9,000 crore of debt of Anil Ambani group company

Debt of Rs 11,200 crore of Reliance Capital group will get resolved once the winning bid is frozen

Reliance Home Finance Ltd (RHFL) on Saturday said it has defaulted on loan of over Rs 40 crore from Punjab & Sind Bank even as the company has enough cash and cash equivalent which it cannot use due to a court order. The Anil Ambani-controlled Reliance Capital's subsidiary defaulted on loan on February 15, 2021, and the current amount of default is Rs 40 crore alongside an interest of Rs 15 lakh. The company's total obligation is of Rs 200 crore on a 5-year tenure secured term loan at 9.25 per cent per annum from Punjab & Sind Bank, RHFL said in a regulatory filing. The company has net cash (including cash equivalent, liquid mutual fund investments, fixed deposits etc) of more than Rs 1,500 crore, it said. "However the delay in debt servicing is due to prohibition on the company to dispose of, alienate, encumber either directly or indirectly or otherwise part with the possession of any assets, pursuant to order dated November 20, 2019 passed by the Delhi High Court," it ...

Lenders to troubled mortgage firm Reliance Home Finance (RHF) have extended the inter-creditor agreement (ICA) for another three months.

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Move follows request by suitors; only two of six contenders submitted binding bids, the other four came with riders

Move follows default on debt to debenture holders who form 99% of the firm's liability

Clean chit by SBI-appointed forensic auditor, fraud call by Bank of Baroda's party

The company has cash on hand of approximately Rs 700 crore in the form of investment in liquid mutual fund

The problems of these institutions won't go away immediately, but timely proactive steps will limit the damage they cause to financial system.

This is no default caused by liquidity tightness. It could have been avoided had the loans to group companies not been given. Period.