by AIP Online Bureau | Oct 20, 2022 | Indian News, Life, Non-Life, Regulation
The sole objective of reconstructing RCap CIC into four CICs is to help select bidders of RCap’s insurance businesses circumvent the IRDAI guidelines related to the five-year lock-in period Mumbai: In a surprise move, the Reliance Capital (NS:RLCP) (RCap)...
by AIP Online Bureau | Oct 17, 2022 | Banking & Bancassurance, Indian News, Life
The Committee of Creditors (CoC) has approved Aditya Birla Capital Ltd to bid for RNLIC, sources said. Reliance Nippon Life Insurance is a 51:49 joint venture between Reliance Capital and Nippon Life of Japan Mumbai: Lenders to debt-ridden Reliance Capital have...
by AIP Online Bureau | Sep 25, 2022 | Eco/Invest/Demography, Indian News, Life, Non-Life, Regulation
Zurich confirmed that it has made a separate offer to acquire a stake in Reliance General Insurance Company as part of the resolution process under Insolvency and Bankruptcy Code (IBC). ”The terms of any transaction are subject to negotiations and there can be...
by AIP Online Bureau | Sep 12, 2022 | Indian News, Life, Non-Life, Regulation
New Delhi: Suitors for debt-ridden Reliance Capital Limited (RCL) have sought extension of up to 4 months for submission of binding bids as part of its resolution process. US-based asset management fund Advent has sought extension by 16 weeks, while Piramal Finance...
by AIP Online Bureau | Aug 29, 2022 | Indian News, Life, Non-Life, Regulation
IDBI Trusteeship Services Limited acting in its capacity as a debenture trustee on behalf of Credit Suisse, had invoked the pledge of Reliance Capital’s 100 per cent shareholding in Reliance General in November 2019 and transferred the shares to its account. The...
