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Tag: ‘capital’

Reliance Capital: Deadline to bid for subsidiaries extended till December 17

Reliance Capital: Deadline to bid for subsidiaries extended till December 17

Finance
NEW DELHI: Reliance Capital Ltd (RCL), part of debt-ridden Anil Ambani-promoted Reliance Group, on Monday said the Committee of Debenture Holders has extended the deadline for submission of bids for the company's subsidiaries to December 17. With regard to invitation of "Expression of Interest (EoI) for submission of asset monetisation plan(s) for certain subsidiaries/ investments of Reliance Capital Limited, we hereby inform that the Committee of Debenture Holders has decided to extend the last date for submission of Expression of Interest to December 17, 2020," RCL said in a regulatory filing. Other than the extension in timeline, all other terms and conditions remain unchanged, it added. Monetisation process is under the aegis of Committee of Debenture Holders and the Debenture Truste...
Reliance Capital defaults on interest payments on HDFC and Axis term loans

Reliance Capital defaults on interest payments on HDFC and Axis term loans

Finance
Anil Ambani-led Reliance Capital defaulted interest payment on its Rs 690 crore of outstanding borrowings from Housing Development Finance Corporation (HDFC) and Axis Bank. The amount includes accrued interest up to October 31. The company informed the exchanges that it failed to pay interest of Rs 4.77 crore to HDFC and Rs 0.71 crore to Axis Bank on October 31 as it was unable to proceed with asset monetisation due to various legal barriers, it said in a regulatory filing on November 27. Reliance Capital's total indebtedness amounts to Rs 20,077 crore including accrued interest at the end of October 31. "The company is unable to proceed with asset monetization resulting in delay in debt servicing, due to prohibition on the company to dispose off, alienate, encumber either directly or ind...
IndoStar Capital to exit corporate lending business by March 2022

IndoStar Capital to exit corporate lending business by March 2022

Finance
Mumbai: Alternative asset manager Brookfield and private equity player Everstone promoted non-banking finance company IndoStar Capital Finance is looking to fully exit from corporate lending business by March 2022, its executive vice-chairman and chief executive R Sridhar said. The company has been reducing its corporate book over the last two years, and has brought down the portfolio by close to Rs 3,500 crore. "From a portfolio size of Rs 6,000 crore in 2018, the corporate book is down to Rs 2,500 crore as of date, which is a reduction of around 60 per cent (We have collected Rs 3,500 crore). By March 2022, the wholesale and corporate book will become zero," Sridhar said. The company will continue to focus on and expand its retail segment, he said. Currently, retail segment contribute...
Ethiopia’s Tigray crisis: PM claims capture of regional capital Mekelle

Ethiopia’s Tigray crisis: PM claims capture of regional capital Mekelle

World
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Op-ed: Advisors can help clients manage their human capital

Finance
Vladimir Vladimirov | E+ | Getty ImagesThe role of a financial advisor can encompass areas that many people might not expect.The truth is a financial advisor is not just someone who helps with investments. Quite often, the job is to assist with every aspect of a client's financial life.Advisors use their expertise to create a personalized financial plan to help realize the client's goals. That same advisor also can leverage their skillset to work with a client to manage their human capital to earn income and build wealth.This is a key because human capital is essentially the future earning power a person has left in their career. I believe it is my responsibility to help clients maximize their human capital and plan for it so that its transition into financial capital is optimized.More fr...