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.
Updated Dec 21, 2020 | 10:50 IST
While Kotak Special Situations Fund has partnered with its group ARC Phoenix, Arcil has teamed up with its single largest shareholder, Avenue Capital.Asset reconstruction companies are taking the lead in bids Arcil, Kotak Fund and 4 others among bidders for debt-ridden Reliance Home Finance | Photo Credit: BCCL
New Delhi: Six bidders have reportedly submitted bids for debt-ridden Reliance Home Finance Limited (RHFL). Of these, only two bidders have submitted compliant and binding bids while the other four have submitted non-binding and non-compliant bids.
Kotak Special Situations Fund (KSS), Asset Reconstruction Company (India) Ltd (Arcil), and Acre ARC are among the six bidders that have expressed interest to buy RHFL, reported