Page 4 - Reliance Capital

RCL may share RFRP with bidder by Wed; all cash bids to get highest score

RCL had offered two options to all the bidders

Credit Suisse and Axis Bank move NCLT against RCap, Administrator

The lenders want recognition as firm's financial creditors, and inclusion in CoC as part of RCap's corporate insolvency resolution proceedings. Administrator has admitted claims worth Rs 23,666 cr

Reliance Capital debt resolution may be delayed over subsidiaries

Options of settling the finances of eight units of Reliance Capital that are financially sound leads to disagreement between bidders and administrator.

Jindal Power in race to buy RCap, Srei in bid to enter financial services

Jindal Power was hived off from its listed parent, Jindal Steel and Power last year to the promoter family and has been bidding for various bankrupt entities since

SC to choose between Sebi, RBI circulars for stressed assets' resolution

The issue gains importance as Sebi wants its circular on ISIN-level voting---issued in October 2020-to be applied to cases such as Reliance Capital and SREI

Tata AIG, ICICI Lombard join race to buy insurance units of Reliance Cap

Parties can either bid to buy the entire company or any one or more of its eight clusters.

Reliance Capital CEO Dhananjay Tiwari resigns

Reliance Capital Ltd on Wednesday said its chief executive officer Dhananjay Tiwari has resigned. The date of his cessation is March 15, 2022, the company said in a regulatory filing, without citing the reason for Tiwari's resignation. The debt-laden company promoted by Anil Ambani is undergoing a corporate insolvency resolution process (CIRP) at the Mumbai Bench of the National Company Law Tribunal (NCLT). The Reserve Bank had on November 29, 2021 superseded the board of Reliance Capital Ltd in view of payment defaults and serious governance issues. The central bank had also appointed Nageswar Rao Y, former executive director, Bank of Maharashtra, as the administrator of the company.

Global biggies KKR, Blackstone, Apollo to bid for Reliance Capital assets

A resolution plan for Srei Infrastructure Finance is currently under process

RBI-appointed administrator invites bids for resolution of Reliance Capital

As part of the resolution process, the RBI-appointed administrator on Friday invited expressions of interest (EoIs) for sale of debt-ridden Reliance Capital promoted by Anil Ambani Group

EPFO invested Rs 2,500 cr in Reliance Capital's bonds: FinMin

Last month, the Reserve Bank had superseded Reliance Capital's board, citing defaults and governance issues

Bond holders clear RCap subsidiary Reliance Commercial's revival plan

Plan had been okayed by ICA lenders, awaited non-ICA lenders' nod. Delay was due to Sebi circular on voting by debenture holders. RCFL owes Rs 9,000 cr to lenders

RBI retains three-member Advisory Committee of Reliance Capital

A day after NCLT admitted RBI's petition for insolvency resolution of Reliance Capital, the central bank on Tuesday said it has retained the three-member Advisory Committee to assist the newly appointed administrator of the crisis-ridden NBFC. The Mumbai bench of the National Company Law Tribunal (NCLT) on Monday admitted the Reserve Bank's plea to initiate insolvency resolution proceedings against Reliance Capital. Last month, the RBI had superseded Reliance Capital's board, citing defaults and governance issues. Upon admission of the petition, the RBI said it has decided that "the three-member Committee shall continue as the Advisory Committee" under the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019. The Advisory Committee shall advise administrator Nageswara Rao Y in the operations of Reliance Capital Ltd during the corporate insolvency resolution process. The members of t

NCLT allows RBI's plea for bankruptcy proceedings against Reliance Capital

The bankruptcy tribunal has also confirmed the appointment of Y Nageswar Rao as the administrator of the company

RBI probe found liabilities swelling, but capital eroding rapidly at RCap

The RBI had kept the firm in constant watch as part of its informal asset quality review, and carried out regular inspections

Why RBI move to supersede Reliance Capital board is par for the course

The dire financial condition of RCap is emblematic of the decline of the Anil Ambani group in the last five-six years

Reliance Infra plans series of measures to prune group debt by March

As part of the comeback plan, Reliance Infrastructure received Rs 550 crore fund infusion from the Anil Ambani family

Top headlines: RBI supersedes RCap; Parl passes bill to repeal farm laws

Business Standard brings you the top news on Monday

Delay in getting strategic investor a concern for Rel Gen: Brickworks

RGICL faces competition from the private as well as public sector general insurance companies in India

Litigations delay asset sale process of debt-ridden Reliance Capital

Reliance Capital had a debt of Rs 26,887 crore on a consolidated level as on fiscal year ended March this year

Resolution of 2 lending biz to cut 50% Reliance Capital debt: Anil Ambani

Completion of the resolution process of Reliance Commercial Finance and Reliance Home Finance will help Reliance Capital reduce its debt by 50 per cent or Rs 20,000 crore, Chairman Anil Ambani said