CoC clears plan to distribute funds equally to RCap lenders
Business Standard|May 30, 2023
The lenders of Reliance Capital (RCap) on Monday approved a plan to distribute the funds to be received from the Hinduja resolution plan, which would be based on their admitted claims and irrespective of their stand while voting on the plan next month.
DEV CHATTERJEE
CoC clears plan to distribute funds equally to RCap lenders

The fund distribution for RCap will be different from earlier practices as the new plan gives equal treatment to all lenders and avoids litigation, informed a banking source.

In earlier resolution plans for a bankrupt company, the dissenting lenders were paid based on liquidation value, which often led to litigation.

This story is from the May 30, 2023 edition of Business Standard.

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This story is from the May 30, 2023 edition of Business Standard.

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