Authum Investments and Infrastructure has completed the takeover of Reliance Home Finance.
Earlier, the Supreme Court had paved the way for Authum by ruling against Bombay HC’s December 2022 order.
Citing the similar case of Securities and Exchange Board of India vs Rajkumar Nagpal and Others, the apex court paved the way for the acquisition saying that the dissenting debenture holders should be provided an option to accept the terms of the resolution plan which proposed the takeover.
Authum Investments had told the top court that it is ready to implement the ₹2,887-crore resolution plan for Reliance Home Finance by March 31. However, SEBI had opposed the same alleging violation of its guidelines on the voting process for debenture holders.
Reliance Home Finance, a subsidiary of Reliance Capital, had a debt of about ₹11,200 crore.