2020 has been tougher for Anil Ambani with peak level financial issues. He declared bankruptcy before a UK court in February 2020. Last time when Anil Ambani faced financial trouble, Mukesh Ambani came to the rescue. But now, things got changed and the banks are now getting ready to sell the assets of Anil Ambani to recover money.
Lenders of Anil Ambani’s Reliance Capital Limited (RCL) have started the process to sell all his assets to recover dues of almost Rs.20,000 crore. A committee of debenture holders (CoDH), representing RCL’s debt issued documents to invite Expressions of Interest (EOI’s) for its subsidiaries. As per the bid document, the deadline to submit EOI’s ends at 5 pm on December 1, 2020.
EOI has been invited for all or a part of RCL’s stake in these subsidiaries. On behalf of the lenders, the asset monetization process will be initiated by SBI Capital Markets Limited and JM Financial Service Limited.
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