 "Reliance")
Ahmedabad-based Torrent group is planning to make an offer for Reliance Nippon Life Insurance Company (RNLIC), a 51:49 joint venture between Reliance Capital (RCap) and Nippon Life of Japan.
Reliance Capital is undergoing a bankruptcy process and the administrator had sought offers for the entire company and for its various business clusters. During the process, no offers were received for the life insurance business even as the lenders received indicative offers for the entire company and for various other companies owned by Reliance Capital.
Bankers close to the deal said a valuer appointed by the administrator for the life insurance
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