Authum completes takeover of Reliance Home Finance Ltd

03 Apr 2023 CW Team

The former Anil Ambani company Reliance Home Finance Ltd. (RHFL) has been acquired by Authum Investments and Infrastructure for 33510 million, the largest resolution of a debt-ridden non- banking financing company (NBFC) outside of bankruptcy courts.

"The necessary funds have been transferred by Authum to secured creditors, and lenders have signed the business transaction agreement transferring the assets to them. This concludes a process that started over three years ago "a person with knowledge of the arrangement said.

RHFL owed a total of 115,400 million to creditors, Bank of Baroda being the largest. In June 2021, Authum was chosen as the successful bidder for RHFL. The Securities and Exchange Board of India (SEBI) raised concerns about the voting procedure, and a challenge brought by the Shapoorji Pallonji Group resulted in a stay on the distribution of money. As a result, the plan's implementation was postponed.

The loan recoveries in RHFL have increased over the period from 16000 million at the time the letter of intent was sent to more than 30000 million, therefore the delay really benefited lenders. Lenders might enhance their recovery as a result.

The secured creditors' recoveries have increased from the initial plan's 26% to around 29% as a result of the rise in the final amount.

On March 3, the Supreme Court approved the resolution plan, with the option for dissenting debenture holders (DHs) to accept its conditions or pursue other legal avenues to recoup their debts.

In October, Authum completed the acquisition of Reliance Commercial Finance, another business owned by Anil Ambani. Yet, the RHFL transaction is larger in terms of both dues and creditors.

Infrastructure Urban

09 Mar 2026

Flender Inaugurates Wind Gearbox Test Rig In Chennai

Chennai, 6 March 2026: Flender has inaugurated a 13.5 MW wind turbine gearbox test rig at its Walajabad facility near Chennai, marking the installation of the largest test rig of its kind in India. The facility was inaugurated on 5 March in the presence of Andreas Evertz, CEO, Flender Group; Lars Wiegemann, Vice President – Wind Gears; and Vinod Shetty, CEO, Flender India.The test rig has been developed to support testing and validation of wind turbine gearboxes, strengthening the company’s capabilities in the renewable energy sector. The commissioning was completed within three months thr..

BMW Industries partners with IOCL for PNG supply at Bokaro plant

BMW Industries has entered into a strategic partnership with Indian Oil Corporation (IOCL) for the supply of Piped Natural Gas (PNG), reinforcing its commitment to adopting cleaner and more efficient energy sources for its operations.The agreement was signed at the Eastern Region Pipelines (ERPL) headquarters in Kolkata. The partnership is expected to support the company’s upcoming manufacturing facility in Bokaro by facilitating the use of natural gas as a primary energy source.According to the company, the adoption of PNG will help enhance operational efficiency while also contributing to ..

Bombay Realty Secures RERA for Three ICC Tower in South Mumbai

Bombay Realty, the real estate arm of Bombay Dyeing and part of the Wadia Group, has received Real Estate Regulatory Authority (RERA) certification for Three ICC – Wing A, the latest luxury residential tower at Island City Center in Mumbai’s Dadar.The RERA registration marks a key milestone in the development timeline and reinforces the company’s focus on regulatory transparency, timely project delivery, and high construction standards.Following the success of One ICC and Two ICC, the upcoming Three ICC tower represents the next phase of the Island City Center development. The project ai..