Reliance Capital Ltd: Debt-ridden Anil Ambani’s company Reliance Capital (Reliance Capital ) was auctioned on Wednesday under the Risement Process (Resolution Process). Ahmedabad-based Torrent Group made the highest bid under Auction Prakrya. Sources have bid Rs 8,640 crore for the acquisition of the non-banking financial company ( NBFC ) established by Anil Ambani Group.
Cosmia Piramal already out of bidding
After this, the Hinduja Group made the second largest bid, while Oktri did not take the same in the auction pratariya. Cosmia Piramal alliances had already gone out of the bidding process. Sources said that the committee of lenders (COC) had set a lower price limit of Rs 6,500 crore for auction. According to an order from the National Company Law Tribunal (NCLT), lenders have to complete the resolution process of Reliance Capital by 31 January 2023.
Reliance General Insurance asked for help
Earlier, another company of Anil Ambani, Reliance General Insurance Company ( Reliance General Insurance Company ), to increase business from debt-ridden parent company Reliance Capital Limited (RCL) to 600 crores Had asked for Rs capital. Sources said that the Lenders Committee is vying soon to discuss the request of RGIC ( RGIC ) RGIC( to give capital in Meating. R illiance cap is undergoing a solution process under the provisional insol Venci and the bankruptcy code ( ICB ).