The Committee of Debenture Holders of Reliance Capital has decided to extend the deadline for bids for certain subsidiaries of the debt-ridden group to December 17.
“The Committee of Debenture Holders has decided to extend the last date for submission of Expression of Interest to December 17, 2020,” Reliance Capital said in a regulatory filing on Monday night.
Other than the extension in the timeline, other conditions remain unchanged, it added.
The earlier deadline was December 1. Reliance Capital had on October 31 floated an expression of interest for selling stake in its subsidiaries as part of the process to pay off its dues to creditors and become debt-free.
The monetisation process is under the aegis of the Committee of Debenture Holders and the Debenture Trustee Vistra, which represents 93 per cent of the total outstanding debt of the company.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.