RCF: Authum decision plan will get debenture holders nod

The decision plan of Authum Investment and Infrastructure obtained 99 per cent vote of debenture holders of Reliance Commercial Finance Ltd (RCF), a bunch firm of debt-ridden Reliance Group promoted by Anil Ambani.
With the nod, Authum moved a step additional for the acquisition of Reliance Commercial Finance, sources stated. The plan — initially accredited by the inter-creditor settlement (ICA) lenders on July 15 this 12 months — was topic to the approval of non-ICA lenders.
The delay was as a result of confusion attributable to market regulator Sebi’s current round on voting by debenture holders, the sources additional stated. Authum Infrastructure and Investment’s bid of Rs 1,585 crore had obtained over 80 per cent votes from lenders in July. (With PTI)