RBI action may derail revival plans of Reliance Capital's subsidiaries

Authum's plan to acquire Reliance Home Finance and RCFL awaits RBI nod

The Reserve Bank of India’s (RBI’s) move to supersede the board of Reliance Capital (RCap) may derail the revival plans of its subsidiaries — both Reliance Commercial Finance (RCFL) and BSE-listed Reliance Home Finance (RHFL) are undergoing separate debt resolution plans initiated by lenders.

A source close to Anil Ambani Group said with a majority of lenders undergoing a protracted debt resolution, the RBI may not tag the debt resolution of both companies with RCap. The RBI had not cleared both proposals and is looking into the “fit and proper” criteria of Authum Finance.

In July this year, the lenders of RCFL