Lenders approve Authum’s plan for Reliance Commercial Finance: Sources
Lenders of Reliance Commercial Finance have approved the resolution plan of Authum Investment and Infrastructure, as per sources. Voting for the successful bidder and the resolution plan of Reliance Commercial Finance (RCF) that had started on 07 June 2021 and concluded today.
Lenders recovery is high as Rs 1240 cr of cash has already been distributed. Company has additional cash and cash equivalent of over Rs 250 crore as on 30 June 2021, which will be distributed along with plan proceeds