BUSINESS
The Ambani-led company has several entities under it, including Reliance Nippon Life Insurance and Reliance General Insurance.
Anil Ambani, Reliance Group chairman and brother of Mukesh Ambani, seems to bounce back these days. Many of his companies either reduced their debt or became debt-free. However, one of his debt-ridden companies is being acquired by Hinduja Group. It is Reliance Capital (RCAP), which has now moved bourses for the delisting of its shares as part of the resolution process.
The company has in accordance with the approval of the monitoring committee, made applications to BSE and NSE for delisting of equity shares of the company, RCAP said in a regulatory filing. Besides, it has also approached BSE for delisting of non-convertible debentures.
Hinduja Group's Mauritius-based IndusInd International Holdings Ltd (IIHL) emerged as the successful suitor with a bid of Rs 9,650 crore for the resolution of RCAP. Later, the company paid Rs 200 crore to bolster RCAP's solvency, which was over and above the bid amount.
READ | Meet man who is set to lead Anil Ambani's Rs 16062 crore company as...
RCAP is registered as a core investment company with the RBI. The Ambani-led company has several entities under it, including Reliance Nippon Life Insurance, Reliance General Insurance, Reliance Money, Reliance Securities, Reliance Asset Reconstruction, and Reliance Commercial Finance. The National Company Law Tribunal (NCLT), Mumbai, on February 27, 2024, approved IIHL's resolution plan and subsequently extended the deadline for completion of the transaction to January 31, 2025.
In November 2021, RBI superseded the board of Reliance Capital on governance issues and payment defaults by the Anil Dhirubhai Ambani Group company. The central bank had appointed Nageswara Rao Y as the administrator, who invited bids in February 2022 to take over the company.
(With inputs from PTI)
Harshvardhan Rane, Mawra Hocane react to Amitabh Bachchan's shout out to Sanam Teri Kasam re-release
Chhaava box office collection day 2: Vicky Kaushal, Akshaye Khanna film mints Rs 67 crore
15 injured in stampede at New Delhi Railway Station, probe on
Amitabh Bachchan was 'mind-blown' in a Bangkok strip club, reveals...: 'He was wearing...'
Watch: Gautam Adani and his wife offered 'chadar' at Ajmer Sharif Dargah
European man shares 10 lessons that shattered his western mindset after moving to India
'India needs strong production base, not empty words': LoP Rahul Gandhi's veiled dig at centre
Ranveer Allahbadia says he’s getting death threats from..., promises he won’t...
Bad news for Rohit Sharma ahead of Champions Trophy 2025, BCCI to take huge step on India captain
Mukesh Ambani's Reliance Industries buys new company for Rs 6.73 crore, it is called...
Who was Lavoo Mamledar, former MLA who died after altercation with...in...
World's largest gold deposit worth over Rs 7 lakh crore found in China, hidden beneath....
Video Viral: Monalisa Bhosle, Mahakumbh sensation, takes first-ever flight to Kozhikode
Who Owns Burj Khalifa? Know the SURPRISING owner of the world's tallest building
Legendary Bengali singer-songwriter Pratul Mukhopadhyay passes away at 82
Whale swallows, then spits out kayaker as moment is captured on camera; WATCH viral video
'I do not regret being part of it': Raghu Ram opens up on India's Got Latent controversy
Meet influencer Ashley Clair who claims Tesla CEO Elon Musk is the father of her child
After Virat Kohli, Yuvraj Singh cuts ties with Ranveer Allahabadia – Here's what happened!
NASA’s curiosity Rover captures stunning twilight clouds on Mars, leaves internet in awe
Who is Ashley St. Clair? Author claiming she secretly gave birth to Elon Musk's child
Google secures Mumbai's BKC offices, renews lease with staggering monthly rent of over Rs.....
Meet man, who sold previous company for Rs 1 lakh crore, he is...
American whiskey Bourbon set to take over Indian market, here's how
Ten devotees from Chhattisgarh killed as car collides with bus enroute to Maha Kumbh
What happens after UPSC? Civil servants share about life at LBSNAA
Mukesh Ambani, sons Akash and Anant take holy dip at Mahakumbh, woman shares video; watch here
'What Akshay Kumar does is..': Ahmed Khan reveals superstar uses teleprompter for…, defends his…
Maha Kumbh fame IIT Baba aka Abhay Singh's 10th, 12th marksheet goes viral
Ameesha Patel shares 'fraudulent promise' video of Gadar 2 because Anil Sharma...: 'How will you...'
After Cristiano Ronaldo, Lionel Messi’s teammate Federico Redondo takes dig at PSG, claims...
Who is Abhinav Chandrachud? Lawyer representing YouTuber Ranveer Allahbadia, he is son of famous...
India's Got Latent controversy: YouTuber Apoorva Makhija kicked out from IIFA? Here's what we know
Former WWE wrestler gives BIG warning to Ranveer Allahbadia, says, 'people like him have...'
Ukraine's Zelenskyy makes BIG claim, says Donald Trump can push Putin to...
Anti-Valentine’s week: From Breakup Day to Slap Day, 7 days explained
Saturday bank holiday: Are banks open or closed on February 15? Check here
Meet Fearless Nadiya, first female Bollywood action star, she was from...
Prateik Babbar shares passionate kiss with Priya Banerjee in dreamy wedding photos
Vicky Kaushal, Rashmika Mandanna, Akshaye Khanna’s Chhaava is a historic epic that roars to glory
'India, US stand firmly together in fight against terrorism': PM Modi
Ranveer Allahbadia hires Ex-Chief Justice of India's son as his lawyer, approaches Supreme Court
CanCentra Review 2025: Scam Or Legit Trading Platform? - Canada Facts!
PAFI Kabupaten Gunungkidul Launches Pharmacist Training Program to Elevate Healthcare Standards
Oswal Energies introduces Advanced Clean Energy Solutions at India Energy Week 2025