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Authum Investments completes takeover of Reliance Home Finance Takeover
Image Credit: nattanan via Pixabay

Authum Investments completes takeover of Reliance Home Finance

India Blooms News Service | @indiablooms | 01 Apr 2023, 01:07 am

New Delhi: Authum Investments and Infrastructure has completed the takeover of Reliance Home Finance, following the Supreme Court's ruling against Bombay HC's order from December 2022, according to media reports.

The apex court referred to the case of Securities and Exchange Board of India vs Rajkumar Nagpal and Others, and cleared the path for the acquisition.

It stated that debenture holders who disagree should be given the choice to accept the resolution plan's terms, which included the takeover.

Authum Investments assured the court of implementing the Rs 2,887 crore resolution plan for Reliance Home Finance by March 31, which SEBI had accused opposing alleging it of violating its guidelines on the voting process for debenture holders.

Reliance Home Finance, a subsidiary of Reliance Capital, had a debt of around Rs 11,200 crore.