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Reliance Home Finance headed for voluntary liquidation, surrenders CoR

Published on January 27, 2024
Current Context: Reliance Home Finance’s application for surrender of its Certificate of Registration on account of voluntary exit from the housing finance business was approved by the Reserve Bank of India on January 25, 2024.
Reliance Home Finance headed for voluntary liquidation, surrenders CoR
  • Authum Investment and Infrastructure Ltd, which acquired Reliance Home Finance a year ago, has proposed voluntary liquidation of the company.
  • Under the resolution plan, Authum acquired Rs 11,540 crore debt of Reliance Home Finance for Rs 3,351 crore.
  • The housing finance company has proposed a slump sale of all its assets to unlisted Reliance Commercial Finance Ltd, which was also acquired by Authum Investment.
  • This decision has impacted the stock price of Reliance Home Finance. 
  • On January 22, 2024, the stock price went down by -1.88%, closing at 5.33 per share.

Question:

Q.1 How much debt of Reliance Home Finance was acquired by Authum under the resolution plan?
a. Rs 3,351 crore
b. Rs 11,540 crore
c. Both A and B
d. None of the above

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