Ambani's Reliance Capital was sold to Hinduja Company?
Bankrupt anil ambani is all set to sell his company reliance Capital. Hinduja group company IndusInd international Holdings Limited has proposed to take over the company. anil ambani, once India's richest man who outshone his elder brother mukesh ambani to global prominence, is insolvent and ready to sell his company reliance Capital, the RBI has agreed.
The bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india (RBI) has approved the acquisition of Anil Ambani's debt-ridden reliance Capital by IIHL BFSI (India), a subsidiary of Hinduja Group. The move comes after the IIHL emerged as the leading bidder in April's auction with an offer of Rs 9,650 crore. The central bank has approved the appointment of five board members from IndusInd to oversee the acquisition process. After the approval, it will be easier for IIHL, a Hinduja Group company, to acquire reliance Capital. IIHL bids Rs 9,650 crore to acquire reliance Capital in second round of auction had bid.
On november 29, 2021, RBI dissolved reliance Capital's board due to payment defaults and significant governance issues. reliance Capital is a financial services company. It provides personal and business loans, insurance, investments and other financial services. The company went bankrupt in 2021.
The bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india (RBI) has approved the acquisition of Anil Ambani's debt-ridden reliance Capital by IIHL BFSI (India), a subsidiary of Hinduja Group. The move comes after the IIHL emerged as the leading bidder in April's auction with an offer of Rs 9,650 crore. The central bank has approved the appointment of five board members from IndusInd to oversee the acquisition process. After the approval, it will be easier for IIHL, a Hinduja Group company, to acquire reliance Capital. IIHL bids Rs 9,650 crore to acquire reliance Capital in second round of auction had bid.
On november 29, 2021, RBI dissolved reliance Capital's board due to payment defaults and significant governance issues. reliance Capital is a financial services company. It provides personal and business loans, insurance, investments and other financial services. The company went bankrupt in 2021.