Page 7 of Reliance Capital

This is the second extension for the completion of RCap’s resolution process. The earlier deadline, as per the Insolvency and Bankruptcy Code (IBC), to complete the process by June 3 was stretched by 90 days to September 2.

Tepid response from prospective bidders: Reliance Capital lenders extend deadline for completion of resolution process

The move follows a cold response from prospective bidders, even as certain bidders had sought “more time” to complete due…

June 17, 2022 00:15 IST

Reliance Capital bid submission date may be extended

Two prospective bidders, Piramal Enterprise and IndusInd Bank, have sought extension of the deadline as they needed more time to…

June 9, 2022 08:23 IST

Out of the 54 Prospective Resolution Applicants (PRAs) who had submitted EoI's for RCap's assets, 45 had not engaged with the CoC at all, sources said.

Deadline to submit Reliance Capital resolution plans likely to be extended

The RBI appointed Nageswara Rao Y as the administrator in relation to the Corporate Insolvency Resolution Process (CIRP) of the…

June 8, 2022 18:34 IST

The appointment of IRDAI chairman comes nearly 9 months after the vacancy was created following Subhash Chandra Khuntia completing his term in May last year.

Acquisition faces hurdles: Piramal bid for Reliance Capital runs into regulatory wall

A consortium led by Piramal Group is one of the eight serious contenders for acquiring RCap’s assets, from whom creditors…

May 27, 2022 03:45 IST

Following the lukewarm response, the Committee of Creditors (CoC) has now decided to extend the deadline to submit resolution plans to June 30 from the earlier May 26, they added.

Poor response to Reliance Capital resolution: Committee of creditors extends date to June 30

Just eight companies show interest

May 12, 2022 04:30 IST

Out of 54 PRAs who had submitted expressions of interest for RCL assets, 45 have not engaged with the CoC at all, sources said, adding, there has been no communication from 45 PRAs, as they have become completely inactive.

Deadline to submit Reliance Capital resolution plans extended till June 30

According to the lenders, sources said, the cold response from majority of the PRAs has been due to the adverse…

May 11, 2022 17:42 IST

Bidders for the entire assets of the company will have the option to make all-cash bids or combinations of upfront cash-cum-deferred payment bids. The timeline to pay upfront cash will be 90 days, sources closed to the development said.

Bidders for Reliance Capital subsidiaries to get just cash-only option

While there will be no option to make deferred payment bids for subsidiaries, all cash bids received for the bankruptcy…

April 25, 2022 05:30 IST

Credit Suisse is seeking about Rs 660 crore in dues from RCap and Axis Bank about Rs 100 crore. NCLT’s Mumbai bench is slated to hear the matters separately on May 9 and May 10.

Credit Suisse, Axis Bank drag Reliance Capital, administrator to NCLT

At its meeting, the CoC also decided to seek a three-months extension to the June 3 deadline for the completion…

April 14, 2022 01:00 IST

RCap’s creditors are seeking Rs 23,666 crore. (Reuters)

Reliance Capital lenders to ask bidders to make all cash bids, form consortiums

As per the new plan being formulated, the new consortiums will also have to bid on an all-cash basis.

April 13, 2022 02:30 IST

As per the Insolvency and Bankruptcy Code (IBC), resolution plans cannot be submitted for companies that are not under financial stress, a source close to the development said.

Reliance Capital’s bankruptcy process to be delayed over bidding structure of clusters

The administrator and CoC will now have to find a solution to let companies place bids, which are compliant with…

April 11, 2022 02:45 IST

Differences emerge between RCap admin, lenders over resolution of Co arms

As many as 54 bids were received for the resolution of RCL and its multiple subsidiaries as of March 25,…

April 10, 2022 16:45 IST

“There are a number of things to be put in place, including checking the books, conducting due diligence, inviting financial bids and shortlisting the candidates. The remaining nearly two months’ time is not enough to complete the entire insolvency process, and hence the CoC has unanimously decided to seek an extension,” a source said.

Reliance Capital Committee of Creditors to seek 3 months extension to complete bankruptcy process

The CoC, led by State Bank of India (SBI), which met on Monday has unanimously agreed to seek an extension…

April 7, 2022 00:15 IST

Darwin Platform Group chairman bids for Reliance Capital in personal capacity

Singh has placed a bid to acquire a majority stake in Reliance Capital, a statement from DPG said.

March 29, 2022 06:30 IST

Adani, Tata AIG among bidders for Reliance Capital; 54 bids received

The subsidiaries are Reliance General Insurance, Reliance Nippon Life Insurance, Reliance Asset Reconstruction Company, Reliance Securities, Reliance Commercial Finance and…

Updated: March 28, 2022 03:11 IST

Earlier in February this year, the RBI-appointed administrator had invited expressions of interest (EoIs) for sale of Reliance Capital. (File)

Adani, Tata AIG, ICICI Lombard among 54 prominent bidders for Reliance Capital

The bidders had two options – either they could bid for the entire RCL or any one or more than…

March 27, 2022 15:20 IST

Most bidders are looking to buy the entire company, sources added, although they could buy just one or more of the company’s eight subsidiaries.

Prominent bidders line up: Adani, KKR among 14 bidders for Reliance Capital

ArpWood, Varde Partners, Multiples Fund, Nippon Life, JC Flowers, Brookfield, Oaktree, Apollo Global, Poonawala Finance and Hero Fincorp are among…

March 14, 2022 04:00 IST

Adani, KKR, Piramal among 14 prominent bidders for Reliance Capital

Earlier in February this year, the RBI appointed administrator had invited expressions of interest (EoIs) for sale of Reliance Capital.

March 13, 2022 16:46 IST

Reliance Capital posts net loss of Rs 1,759 crore in Q3

The company has defaulted on repayment of its obligations to the lenders and debenture holders.

February 4, 2022 16:41 IST

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