Piramal Group not eligible to acquire Reliance Capital, says Irdai

Group has promoter stake in Pramerica Life Insurance

Reliance Capital

RCap’s lenders have extended the deadline to submit bids till June 30 as they received a tepid response from prospective bidders, with only eight of the 54 prospective resolution applicants engaging with them

The Insurance Regulatory and Development Authority (Irdai) has written to Reliance Capital’s administrator flagging concerns over Piramal Group’s bid for the firm, pointing out that the latter already has a

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First Published: May 27 2022 | 6:10 AM IST

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