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Reliance Home Finance

Sebi issues Rs 129 cr demand notices to RHFL, others in fund diversion case

Capital markets regulator Sebi has asked six entities, including Reliance Home Finance Ltd (RHFL) and former company officials, to pay Rs 129 crore for the illegal diversion of funds from the firm. The regulator has warned these entities to attach assets and bank accounts if they fail to make the payment within 15 days. Sebi sent notices to Reliance Home Finance, Ravindra Sudhalkar, Amit Bapna, Pinkesh Shah, Phi Management Solutions Pvt Ltd and Adhar Project Management and Consultancy Pvt Ltd in the case. The demand notices came after these entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi) in August this year. In six separate notices, Sebi directed these six entities to pay the amount in the range of Rs 6.25 lakh to Rs 28.08 crore, which includes interest and recovery costs within 15 days. In the event of non-payment of dues, the market regulator will recover the amount by attaching and selling the moveable and immovable property

Sebi issues Rs 129 cr demand notices to RHFL, others in fund diversion case
Updated On : 06 Nov 2024 | 8:35 PM IST

Sebi asks 5 entities to pay Rs 130 cr in Reliance Home fund diversion case

Sebi on Monday asked five entities, including Netizen Engineering and Citi Securities and Financial Services, to pay Rs 130 crore for the illegal diversion of funds from Reliance Home Finance Ltd. The regulator has warned these entities to attach assets and bank accounts if they fail to make the payment within 15 days. Those who have sent notices are Netizen Engineering Pvt Ltd, Gamesa Investment Management Pvt Ltd, Vinayak Ventures Pvt Ltd, Deep Industrial Finance Ltd and Citi Securities and Financial Services Pvt Ltd. The demand notices came after these entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi) in August. In five separate notices, the markets watchdog directed these five entities to pay Rs 26 crore each which includes interest and recovery costs within 15 days. In the event of non-payment of dues, the market regulator will recover the amount by attaching and selling the moveable and immovable property of these entities.

Sebi asks  5 entities to pay Rs 130 cr in Reliance Home fund diversion case
Updated On : 04 Nov 2024 | 10:48 PM IST

SAT admits Anil Ambani plea in RHFL case, directs 50% deposit of penalty

The tribunal has directed Ambani to deposit 50 per cent of the penalty amount and asked Sebi to file a reply in the matter within four weeks

SAT admits Anil Ambani plea in RHFL case, directs 50% deposit of penalty
Updated On : 18 Oct 2024 | 11:46 PM IST

RHFL fund diversion case: 5-year market ban for Anil Ambani, 24 others

Sebi imposes Rs 624 cr fine on 27 individuals, entities

RHFL fund diversion case: 5-year market ban for Anil Ambani, 24 others
Updated On : 23 Aug 2024 | 11:40 PM IST

ADAG stocks crack up to 10% as Sebi bans Anil Ambani from markets for 5 yrs

Sebi bans Anil Ambani news: According to a PTI report, Sebi has barred Anil Ambani, and 24 other entities, from the securities market for a period of five years

ADAG stocks crack up to 10% as Sebi bans Anil Ambani from markets for 5 yrs
Updated On : 23 Aug 2024 | 4:28 PM IST

Anil Ambani banned from security market for 5 yrs, fined Rs 25 cr by Sebi

Anil Ambani and 24 other entities have been barred from the securities market for five years for fund diversions from Reliance Home Finance Ltd

Anil Ambani banned from security market for 5 yrs, fined Rs 25 cr by Sebi
Updated On : 23 Aug 2024 | 11:59 AM IST

Reliance Home Finance surrenders certificate of registration to the NHB

There are other nine non-banking finance companies which surrendered the Certificate of Registration (CoR), the RBI said

Reliance Home Finance surrenders certificate of registration to the NHB
Updated On : 09 Feb 2024 | 9:04 PM IST

Arena-Varde Partners, NARCL and Authum submit final bids for Srei companies

Srei Infrastructure Finance and Srei Equipment Finance were admitted for bankruptcy following applications filed by the Reserve Bank of India in October 2021

Arena-Varde Partners, NARCL and Authum submit final bids for Srei companies
Updated On : 03 Dec 2022 | 1:34 PM IST
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RCap insolvency: Will creditors lose out in the resolution?

Monday was the last day for submission of bids for Reliance Capital assets sale after five deadline extensions. So, what is in the store for the lenders and other stakeholders, let us find out

RCap insolvency: Will creditors lose out in the resolution?
Updated On : 01 Sep 2022 | 7:00 AM IST

RCap lenders hive off home finance, NBFC into separate trust for resolution

The proceeds of the sale of these two companies in future will flow directly to the lenders of the Reliance Capital which is currently undergoing a bankruptcy process

RCap lenders hive off home finance, NBFC into separate trust for resolution
Updated On : 18 Jul 2022 | 12:45 AM IST

Debt-laden Reliance Home Finance Q4 net loss balloons to Rs 4,522 crore

Debt-laden Reliance Home Finance (RHFL) on Friday reported ballooning of its net loss to Rs 4,522.19 crore for the quarter ended March 2022.

Debt-laden Reliance Home Finance Q4 net loss balloons to Rs 4,522 crore
Updated On : 06 May 2022 | 9:13 PM IST

Sebi bars Reliance Home Finance, Anil Ambani, 3 others from securities mkt

Stock market regulator Securities and Exchange Board of India (SEBI) restrained Reliance Home Finance, it's promotor Anil Ambani and three others from buying, selling or dealing in securities, either directly or indirectly, in any manner whatsoever until further orders.Anil Ambani and others are also restrained from associating themselves with any intermediary registered with SEBI, any listed public company or acting as Directors/promoters of any public company which intends to raise money from the public, till further orders, SEBI said in its interim order issued on Friday late evening.Interim order issued by S K Mohanty, Whole Time Member of SEBI says that the root of the present proceedings can be traced to multiple sources inter alia, a letter of Price Waterhouse & Co. ("PWC") addressed to Reliance Home Finance Limited (RHFL) intimating their resignation as the Statutory Auditor of the Company citing various grounds & reasons.Certain complaints received by Securities ..

Sebi bars Reliance Home Finance, Anil Ambani, 3 others from securities mkt
Updated On : 12 Feb 2022 | 1:50 AM IST
Updated On : 08 Jul 2021 | 11:08 PM IST

Reliance Home Finance takes up resolution plan approved by lenders

RHF on Monday took note of a resolution plan approved by lenders under the Reserve Bank of India's (RBI's) prudential framework for resolution of stressed assets

Reliance Home Finance takes up resolution plan approved by lenders
Updated On : 21 Jun 2021 | 2:03 PM IST

Lenders select Authum Investment's Rs 2,900 cr bid for Reliance Home Fin

The resolution will help parent company Reliance Capital Ltd prune its debt by 25 per cent to Rs 11,200 crore

Lenders select Authum Investment's Rs 2,900 cr bid for Reliance Home Fin
Updated On : 20 Jun 2021 | 6:04 PM IST

At Rs 2,887 crore, Authum is top bidder for Reliance Housing Finance

subsidiary of Reliance Capital, the firm had defaulted on Rs 11,000 crore of loans and lenders had sought bids from investors

At Rs 2,887 crore, Authum is top bidder for Reliance Housing Finance
Updated On : 15 Jun 2021 | 10:33 PM IST

Lenders begin vote to select highest bidder for Reliance Commercial Finance

The voting to choose the bidder will end on June 25 and resolve another Rs 9,000 crore of debt of Anil Ambani group company

Lenders begin vote to select highest bidder for Reliance Commercial Finance
Updated On : 10 Jun 2021 | 11:33 PM IST

Lenders begin voting on Reliance Home Fin bids, to choose winner on June 15

Debt of Rs 11,200 crore of Reliance Capital group will get resolved once the winning bid is frozen

Lenders begin voting on Reliance Home Fin bids, to choose winner on June 15
Updated On : 09 Jun 2021 | 11:49 PM IST

Reliance Home Finance defaults on Rs 40 cr loan repayment to P&S Bank

Reliance Home Finance Ltd (RHFL) on Saturday said it has defaulted on loan of over Rs 40 crore from Punjab & Sind Bank even as the company has enough cash and cash equivalent which it cannot use due to a court order. The Anil Ambani-controlled Reliance Capital's subsidiary defaulted on loan on February 15, 2021, and the current amount of default is Rs 40 crore alongside an interest of Rs 15 lakh. The company's total obligation is of Rs 200 crore on a 5-year tenure secured term loan at 9.25 per cent per annum from Punjab & Sind Bank, RHFL said in a regulatory filing. The company has net cash (including cash equivalent, liquid mutual fund investments, fixed deposits etc) of more than Rs 1,500 crore, it said. "However the delay in debt servicing is due to prohibition on the company to dispose of, alienate, encumber either directly or indirectly or otherwise part with the possession of any assets, pursuant to order dated November 20, 2019 passed by the Delhi High Court," it ...

Reliance Home Finance defaults on Rs 40 cr loan repayment to P&S Bank
Updated On : 06 Mar 2021 | 7:12 PM IST

Lenders extend ICA for Reliance Home Finance resolution till Mar 31

Lenders to troubled mortgage firm Reliance Home Finance (RHF) have extended the inter-creditor agreement (ICA) for another three months.

Lenders extend ICA for Reliance Home Finance resolution till Mar 31
Updated On : 29 Dec 2020 | 12:40 PM IST