B-Right Realestate Ltd submits resolution plan for Reliance Capital Ltd as whole company

B-Right Realestate Limited as a part of its regular course of business has been looking to acquire stressed assets / projects / Companies under going Corporate Insolvency Resolution Process ("CIRP") under the provisions of Insolvency and Bankruptcy Code, 2016 ("IBC"). Reliance Capital Limited ("RCAP")/("Corporate Debtor") is undergoing CIRP under the provisions of IBC.

As a part of this process to acquire Stressed Assets / Company viz Reliance Capital Limited ("RCAP")/("Corporate Debtor"), the Company has submitted Expression of Interest for submission of Resolution Plan in March 2022. The Company intends to acquire the "Corporate Debtor" viz Reliance Capital Limited as whole Company along with all its subsidiaries.

The Company has submitted Resolution Plan on August 29, 2022, and hence the news which is circulating in Media is True and Correct.

Due to the Confidential nature of transaction the Resolution amount for the "RCAP" bid cannot be disclosed. The Company is actively looking forward to participating in the bidding process.

Source : Equity Bulls

Keywords

BRightRealestate EOI ExpressionofInterest ResolutionPlan RelianceCapital