Four bidders in final race to acquire Reliance Home Finance

Source : IANS 2021-01-28 12:30:35

Two US-based funds Avenue Capital/ARCIL and Aries SSG/ACRE have placed their bids to acquire RHFL as a Company.

Banking sources added that Capri Global and Kotak Special Situation Fund have bid for retail assets.

Lenders are supporting for a full solution by selling the entire company.

It is believed that Capri Global is the highest bidder for the retail assets of RHFL.

However, lenders are skeptical on Capri Global being able to pass the "fit and proper" test due to the alleged criminal background of its promoter Rajesh Sharma.

Sharma was arrested by CBI for the bribe-for-loanscandal.

CBI registered five cases against Sharma, who was allegedly co-conspirator and abettor in the bribery scandal, having nexus with high ranking officials in public sector banks and financial institutions and paying bribes to them for sanctioning loans in favour of his client companies.