Reliance Capital Ltd (RELCAPITAL)

RBI Directs Reliance Capital to Maintain Distance from IndusInd Bank - 21 Nov, 2023

The Reserve Bank of India has directed Reliance Capital to maintain an arms length from IndusInd Bank and approved the appointment of five Hinduja Group representatives as directors on RCaps board.

RBI Approves Hinduja Group's Directors on Reliance Capital Board - 20 Nov, 2023

The RBI has approved five Hinduja Group representatives as directors on the board of Reliance Capital, along with IIHL's Rs 10,000 crore resolution plan for the bankrupt company. The RBI stipulated that after the implementation of the resolution plan, any change in shareholding will be subject to its prior approval.

Reliance Capital Valuation Boosted by Zurich-Kotak Deal - 05 Nov, 2023

The Hinduja Group is reworking its resolution funding plan for the acquisition of bankrupt Reliance Capital. The recent Kotak-Zurich Insurance transaction has boosted the valuation of Reliance Capital insurance companies.

Legal Objection Raised Against Extinguishing ESOPs - 24 Oct, 2023

A legal opinion taken by Reliance General Insurance Company has raised objections to the plan of Hinduja-led IndusInd International Holdings Ltd to extinguish employees stock options and other incentive schemes for Reliance Capital's subsidiaries.

Reliance Capital Destroyed Over $21 Billion Before Going Bankrupt - 23 Oct, 2023

Reliance Capital had positive LIVA until 2007 but destroyed over $21 billion before going bankrupt and undergoing insolvency proceedings.

Overseas Funds and Banks Back Out of Funding Hinduja Group's Takeover Plans for Reliance Capital - 17 Oct, 2023

Overseas funds and banks have reportedly backed out of discussions with the Hinduja Group to fund its plans to take over Reliance Capital through the insolvency process. This comes after a proposal to raise funds by pledging shares of RCap's two subsidiaries was rejected by the insurance regulator.

Reliance Capital Acquisition Plan Faces Hurdles - 16 Oct, 2023

The Hinduja Group-led IIHL's proposal to raise funds for the Reliance Capital acquisition has been rejected by IRDAI, prompting questions from the Reliance Capital Administrator about the source of funds and business plan.

Hinduja Group in Talks to Raise $800 Million for Reliance Capital Acquisition - 09 Oct, 2023

Hinduja Group is reportedly in talks with private credit funds to raise around $800 million to support the acquisition of Reliance Capital, a shadow bank that was taken over by the central bank in 2021. Hinduja had previously sought to raise $1 billion from financial institutions for the potential acquisition.