News
Voting begins on bids for Reliance Home Fin
Creditors to Reliance Home Finance (RHF) have commenced voting on bids for the company, which could lead to resolution of the Rs 11,200-crore debt of the Anil Ambani group company.
The voting process is likely to be completed by June 15.
Ares SSG with Asset Care Reconstruction Enterprise, Authum Infrastructure, Avenue Capital and Capri Global are ahead in the race to acquire the housing finance company.
Ares and Avenue Capital are global funds, while Authum and Capri Global are domestic non-banking finance companies.
Unlike other large defaults where creditors have initiated bankruptcy proceedings, the RHF debt resolution is under the June 7, 2019 circular of the Reserve Bank of India, which provides for out-of-court restructuring under the prudential framework for resolution of stressed assets.
Bank of Baroda as the lead bank and other banks have entered an inter-creditor agreement to facilitate the restructuring.
Other lenders include Punjab National Bank, ICICI Bank, HDFC Bank, Canara Bank, Bank of India and Indian Bank. The company has defaulted on repayments of over Rs 6,000 crore.
-
News3 weeks ago
KW Delhi 6 Mall Onboards New Brands
-
News4 weeks ago
Manasum Senior Living Launches IKIGAI GOA, A Senior Living Community in North Goa, in collaboration with Prescon Homes
-
News2 weeks ago
Godrej Properties Sells Rs 3k cr+ Homes of Godrej Zenith, Gurugram, within 3 days
-
News4 weeks ago
Bridging India Divide: Top 5 Tier- 2 Cities to Focus On
-
News3 weeks ago
Commercial Realty Gets Tech Savvy: Fast Construction, Enhanced Convenience
-
News4 weeks ago
Multipoint Connection – A Definite Boon
-
News3 weeks ago
RBI’s Status Quo on Key Policy Rates to Help Maintain the Real Estate Growth Momentum, Say Industry Stalwarts
-
News1 week ago
Olive Announces Dhruv Kalro as Co-Founder