Reliance Mediaworks Financial Services Private Limited, an RCAP Group company, is one of the investors in PFL - promoted by Naresh Malhotra and Namit Malhotra.
Earlier this month, the Committee of Debenture Holders had extended the last date for submission of expression of interest (EoI) to December 17, 2020
As per the regulations, depository participants are restricted from delegating their function to any other person, without the prior approval of the depository
Reliance Capital's expression of interest for asset monetisation garnered mega response with 60 bids being received
Oaktree, JC Flowers, 6 others submit EoIs for entire company
Bidders have the option to either buy the entire company or bid for the company's individual assets.
The company had posted a net loss of Rs 96 crore in the quarter ended September a year ago
December 1 deadline for submitting EoIs; bids also invited for its MF assets where RCap holds 49% stake
Nabard had classified the account of RCFL as "red flag" in February this year, which led to a detailed forensic audit of the company's books, delaying its sale.
Reliance swoops on Netmeds; sector expected to hit revenues of over $3.6 bn by 2022
The Anil Ambani-controlled firm had posted a net loss of Rs 116 crore in the same quarter of the previous financial year
CARE had downgraded RCap's long-term debt programme, market-linked debentures and subordinated debt due to delay in payment of interest
Combined profit before tax of 81 firms down 37.5% y-o-y, worst show in at least 3 years
These shares were acquired pursuant to invocation of pledge by security trustee on behalf of the corporation, which was pledged against a loan given by the lender in its normal course of business
The company has cash on hand of approximately Rs 700 crore in the form of investment in liquid mutual fund
Reliance Capital believes that the order by Irdai will protect the interest of all lenders and debenture holders of the company.
The regulator also said its prior approval was not taken for the transfer. The Irdai added that the unauthorised transfer also violates FDI regulations
The demand for immediate payments for the facilities availed by the firm from various lenders
Shares of Reliance Capital Ltd ended 0.61 per cent higher at Rs 16.40 on the NSE
With this, the pension fund is no longer available for subscription under NPS, said the Pension Fund Regulatory and Development Authority of India