Litigations delay asset sale process of debt-ridden Reliance Capital

Reliance Capital had a debt of Rs 26,887 crore on a consolidated level as on fiscal year ended March this year

The sale of assets of Reliance Cap­ital, initiated by the len­d­ers of the Anil Ambani company, has entered the slow lane, with litigation across various courts delaying the process.

The lenders of Reliance Capital had put several assets of the firm, including its insurance ventures, asset reconstruction firm, and securities arm on sale. 

In total, the advisors to the lenders — SBI Caps and JM Financial — had received over 90 EoIs (expressions of interest) for nine key assets of the company but no transaction could be completed because of the ongoing litigation in debt recovery tribunals and other courts.