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Reliance Capital lenders appoint SBI Caps, JM Financial to sell assets

Move follows default on debt to debenture holders who form 99% of the firm's liability

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The EPFO’s exposure to Reliance Capital is estimated at about Rs 2,500 crore.

3 min read Last Updated : Sep 21 2020 | 11:41 PM IST

Lenders to Reliance Capital Ltd (RCL) have appointed SBI Caps and JM Financial to sell the assets of the company after the Anil Ambani-owned firm defaulted on its debt repayment to debenture holders and other creditors.

The debenture holders account for 99 per cent of the borrowing of RCL and have formed the committee of debenture holders (CODH) for debt resolution.

The indebtedness of RCL is Rs 19,806 crore, including its accrued interest up to August 31, 2020, to banks and debenture holders.

Of the amount, the debenture holders’ exposure is around Rs 15,000 crore.

The committee is led by the Employees’ Provident Fund

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