Reliance Capital debt resolution may be delayed over subsidiaries

Options of settling the finances of eight units of Reliance Capital that are financially sound leads to disagreement between bidders and administrator.

The debt resolution of Reliance Capital has slowed down after differences between lenders and the administrator over settling the finances of the company’s subsidiaries. A request for documenting the resolution plan has not been issued to some 50 companies that submitted expressions of interest in March for Reliance Capital.

As part of the process, the administrator invited expressions under two options: one was to submit a consolidated Reliance Capital-level resolution as a going concern basis and another was to submit separate plans for eight business clusters/subsidiaries.

A banking source said the request  for resolution plan document (RFRP) was to be