Business Standard

Reliance General Insurance seeks a capital infusion of Rs 600 crore

Reliance Capital is undergoing bankruptcy proceedings since November 2021 after defaulting on loans worth Rs 24,000 crore

Photo: Wikimedia Commons
Premium

Photo: Wikimedia Commons

Dev Chatterjee Mumbai
Reliance General Insurance, a subsidiary of Reliance Capital has sought a capital infusion of Rs 600 crore from its holding company to improve its solvency level. 

Reliance Capital is undergoing bankruptcy proceedings since November 2021 after defaulting on loans worth Rs 24,000 crore. The main reason for the urgent need for capital is the delay in Reliance Capital's resolution process. Both Torrent and Hinduja group have made offers for Reliance Capital and the matter is currently pending with the appellate tribunal. 

In its December quarter results presentation, Reliance General Insurance said that to take its solvency level from the current

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 23 2023 | 7:39 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com