Reliance Home Finance Limited has informed the Exchange about Corporate Insolvency Resolution Process
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Reliance Home Finance Limited has informed the stock exchange that a Corporate Insolvency Resolution Process has been initiated against the company. This typically means an application under the Insolvency and Bankruptcy Code (IBC) has been admitted by the National Company Law Tribunal (NCLT). The company is a non-banking finance company (NBFC) and is part of the Anil Dhirubhai Ambani Group. Existing board powers are usually suspended and a resolution professional takes control of operations. Lenders will work to recover dues either through a revival plan or liquidation.
This is a highly negative event for shareholders. Existing equity holders are likely to face significant dilution or near-total loss of value, as secured creditors and financial lenders are prioritized in any recovery. The stock may see sharp declines and liquidity may dry up on the exchanges.