Another Anil Ambani group firm – Reliance Home Finance – is staring at insolvency proceedings after a financial creditor, Invent Assets Securitisation & Reconstruction Private Limited, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, the company said in an exchange filing on Monday. The petition was filed before the National Company Law Tribunal (NCLT), Mumbai bench. The claim amount in the petition is Rs 7.80 crore (including interest).
Reliance Home Finance plans to seek legal advice and take appropriate steps to protect its interests in this matter. The financial implication on the company is currently uncertain and will depend on the final outcome of the proceedings and any subsequent…
