Reliance Home Finance Faces Liquidation

Reliance Home Finance Faces Liquidation

In a significant turn of events, Reliance Home Finance is on the brink of voluntary liquidation, marking a pivotal moment in the financial landscape. The company has decided to surrender its corporate license, signalling a strategic move amidst the evolving economic scenario.

This decision follows a series of challenges faced by the housing finance sector, with Reliance Home Finance opting for a proactive approach to navigate the complexities. The move towards voluntary liquidation is aimed at streamlining operations and mitigating potential risks.

The surrender of the corporat..

Reliance Capital divests 45% stake in home finance, earns Rs 540 mn

Reliance Capital has divested a 45% stake in its listed subsidiary, Reliance Home Finance, for Rs 540 million in the open market. This strategic step is anticipated to enhance the recovery prospects for lenders. The finance company, Reliance Capital, which was previously owned by Anil Ambani, is presently in the process of corporate insolvency. It now retains less than 2.5% ownership in Reliance Home Finance.

The lenders have given their approval to the resolution plan presented by IndusInd International Holdings, a Hinduja Group-promoted entity, for an amount of Rs 96.60 billion in..

Reliance Capital sells 45% stake in Reliance Home Finance

Reliance Capital, currently undergoing corporate insolvency proceedings, has divested a 45% stake in its listed subsidiary, Reliance Home Finance, for Rs 54 million in the open market. This strategic move is expected to enhance recovery prospects for creditors. Consequently, Reliance Capital's ownership in Reliance Home Finance now stands at less than 2.5%.

Lenders have greenlit a resolution plan worth Rs 96.60 billion proposed by IndusInd International Holdings, a Hinduja Group entity, for Reliance Capital.

It's noteworthy that the resolution process for Reliance Capita..

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The TVS iQube Electric promises to redefine urban commuting with its advanced technology and eco-friendly features. Boasting a sleek design and compact structure, the electric scooter is tailored to meet the evolving needs of urban commuters, offering a s..

Chinese EV Giant Leapmotor Eyes Indian Market

Chinese electric vehicle (EV) manufacturer Leapmotor is poised to make a significant entry into the Indian market in the third quarter of the 2024-25 fiscal year. With India rapidly transitioning towards electric mobility, Leapmotor's arrival could mark a pivotal moment in the country's automotive industry.

Leapmotor's decision to venture into India underscores the growing appeal of the country as a lucrative market for EV manufacturers worldwide. As one of the world's largest automotive markets, India presents immense opportunities for companies looking to capitalise on the increasing..