by AIP Online Bureau | Dec 5, 2022 | Indian News, Life, Non-Life
Deloitte, the process advisor of Reliance Capital Ltd (RCL) Administrator Y Nageshwar Rao, is of the opinion that the value of the bids is almost 70 per cent below the liquidation value of Rs 13,000 crore, sources said. Mumbai: Differences have emerged between lenders...
by AIP Online Bureau | Nov 30, 2022 | Indian News, Life, Non-Life
The option 1 bidders are Hinduja, Torrent, Oaktree, Cosmea Financial and Piramal consortium, and UAVRCL. Out of these five bidders, UVARCL has bid on a fee basis, which means that it has not submitted any resolution plan for RCAP. It will further sell RCAP assets and...
by AIP Online Bureau | Nov 16, 2022 | Eco/Invest/Demography, Indian News, Life
LIC’s timing and pricing of selling its Rs 3,400 crore debt of RCAP debt have raised eyebrows. Bidders have alleged a conflict of interest in the sale of LIC debt to ACRE, as both ACRE and LIC are members of RCAP’s COC. ACRE has an exposure of Rs 1,350...
by AIP Online Bureau | Nov 4, 2022 | Indian News, Life, Non-Life
Some bidders have raised concerns with the Administrator about the introduction of this new clause at this late stage of the bidding process, sources said, adding there was no mention of this mechanism in the Request for Resolution Plan (RFRP) document These bidders...
by AIP Online Bureau | Nov 2, 2022 | Indian News, Non-Life
A spokesperson of WTW has clarified,“ We have come across media reports that mention Willis Towers Watson having done the valuation of Reliance General Insurance. The reports also mention a valuation amount. We would like to clarify that these reports are...
