Oaktree has sought Reliance Capital's financial results till December 2022, followed by a four week extension, till January 31, 2023, for conducting the auction process
RCL had offered two options to all the bidders. Under the first option, companies could bid for Reliance Capital, including its eight subsidiaries or clusters. The second option gave the company freedom to bid for its...
With the binding bids coming in at an abysmally low value, the advisors and members of the CoC hold different opinions on what process they should adopt for the resolution
Key clusters of RCL are Reliance General Insurance, Reliance Health Insurance, Reliance Nippon Life Insurance, Reliance Asset Reconstruction, and Reliance Securities.
In the preliminary round, Advent had shown interest in taking over RCL subsidiary Reliance General Insurance by submitting a non-binding bid of Rs 7,000 crore.