debt-ridden debtor Reliance Capital allowed Aditya Birla Capital to make your bid to acquire a stake in Reliance Nippon Life Insurance Company ,RNLIC), the sources said.

RNLIC is a subsidiary of debt-ridden Reliance Capital which is undergoing insolvency resolution process.

The Committee of Creditors (CoC) has approved Aditya Birla Capital Limited to bid for RNLIC, the sources said. Reliance Nippon Life Insurance 51:49 joint venture between Reliance Capital and Japan’s Nippon Life,


When contacted, Aditya Birla Capital Limited did not respond to queries.

Reliance Nippon Life Insurance was the only subsidiary of Reliance Capital which had not received any bids when the deadline for submission of non-binding bids ended on August 29.

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