by AIP Online Bureau | Feb 28, 2024 | Banking & Bancassurance, Indian News, Life, Non-Life, Regulation, Wealth Management/ Philanthropy
“The liquidation value of the equity shareholder of RCL (Reliance Capital) is nil and hence, equity shareholders will not be entitled to receive any payment and no offer will be made to any shareholder of RCL,” according to an exchange filing by RCL Mumbai: Hinduja...
by AIP Online Bureau | Oct 4, 2023 | Banking & Bancassurance, Breaking News!, Eco/Invest/Demography, Indian News, Life, Non-Life, Regulation
In a fresh Letter of Urgency, Torrent Investment has stated that during the pendency of its appeals before the SC, the Committee of Creditors (COC) of Reliance Capital have not only conducted the second round of auction, but approved the resolution plan of IIHL and...
by AIP Online Bureau | Sep 1, 2023 | Indian News, Life, Regulation
According to sources, based on this SC order, the NCLT is likely to follow the same path and dismiss Torrent’s plea. Prior to NCLT, Torrent Investment had approached SC and filed a plea seeking to restrain NCLT from considering IIHL’s resolution plan, but in a...
by AIP Online Bureau | Aug 31, 2023 | Indian News, Life, Non-Life
In its appeal, Torrent Investment said the matter is pending with the Supreme Court and if the tribunal approves IIHL’s Rs 9,650 crore resolution plan it will become infructuous if the apex court rules against the Committee of Creditors (CoC) decision on the...
by AIP Online Bureau | Aug 28, 2023 | Indian News, Life, Regulation
According to a banker involved in the process, as the resolution plan states that all existing shareholders agreement will be nullified, there is a question mark on the fate of RCAP’s life insurance joint venture with Nippon Life of Japan Mumbai: The resolution...
