Reliance Capital lenders appoint SBI Caps, JM Financial to sell assets
Lenders to Reliance Capital Ltd (RCL) have appointed SBI Caps and JM Financial to sell the assets of the company after the Anil Ambani-owned firm defaulted on its debt repayment to debenture holders and other creditors. The debenture holders account for 99 per cent of the borrowing of RCL and have formed the committee of debenture holders (CODH) for debt resolution.
“The committee led by EPFO and LIC has appointed SBI Caps and JM Finance for fast track resolution and monetisation. Expression of Interest (EoI) by Vistra, the Trustee, is likely to be issued this week,” said a source aware of the developments.
According to analysts, the Employees’ Provident Fund Organisation (EPFO) has an exposure of ₹2,500 crore to Reliance Capital, while Life Insurance Corporation of India has an exposure of ₹4,700 crore to RCap and its subsidiary Reliance Home Finance.
Tap To Explore More : Business Line