The Board of Directors of Reliance Commercial Finance (RCF) took note
of the resolution plan approved by the Lenders forming part of the Inter-Creditor Agreement (ICA Lenders) under RBI's Prudential Framework for Resolution of Stressed Assets, Directions dated 07 June 2019 (RBI
Directions).
RCF is a wholly owned subsidiary of Reliance Capital.
Lenders selected Authum Investment and Infrastructure (Authum) as the successful Bidder to acquire the Company and/or all its' assets through a competitive bidding process after several rounds of negotiations between the bidders and the Lenders.
The implementation of the resolution plan by the successful bidder is subject to approval of non-ICA Lenders, shareholders, regulatory authorities and, vacation of existing legal injunctions on the Company.
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