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).
Reliance Commercial Finance lenders approve debt-resolution plan
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Reliance Commercial Finance lenders approve debt-resolution plan with Authum as successful bidder
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