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Ambani sold the company in debt! The price was only one crore of rupees

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Ambani sold the company in debt! The price was only one crore of rupees

Bangladeshi Office: Reliance Commercial Finance Ltd, an indebted subsidiary of Anil Ambani, was finally sold. Autumn Investments and Infrastructure on Friday acquired Reliance Commercial Finance Ltd (RCFL) for Rs 1 crore. Reliance Capital reported this information on Friday.

“The stake was sold to Autumn Investments and Infrastructure Limited to implement RCFL’s resolution plan for the Company Reserve Bank of India,” Reliance Capital previously reported. On the other hand, Kumar Mangalam Birla came forward to buy a debt-ridden company from Anil Ambani. Birla’s company, Aditya Birla Capital, has expressed interest in Reliance Nippon Life Insurance Company (RNLIC), a subsidiary of Reliance Capital.

According to PTI, RNLIC lenders have approved the tender for Aditya Birla Capital. Reliance Capital is subject to bankruptcy proceedings. The deadline for submitting non-binding offers for this was August 29. According to sources, the Committee of Creditors (CoC) of RNLIC has approved the tender for Aditya Birla Capital Limited. Reliance Capital holds 51% and Japan’s Nippon Life 49% of the company. However, Aditya Birla Capital Limited did not respond to questions about this.

Reliance authorities have received 14 takeover bids from Reliance Capital. The deadline for submitting resolutions for this was August 29. This includes a consortium led by the Piramal Group. In addition, Octree Capital, Torrent Investments, IndusInd International and Cosmi Financial Services also took into account. These companies set prices to buy entire companies or a few clusters.

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