On Wednesday, the company’s creditors were asked to submit their claims along with proof by December 20 after the commencement of corporate insolvency proceedings against the firm. In an order dated 6th December, 2021 National Company Law Tribunal, Mumbai (NCLT), Corporate Insolvency Resolution Process has been initiated against Reliance Capital in accordance with the provisions of the Insolvency and Bankruptcy Code (IBC), 2016.

In this regard, the company made a public announcement on the claims of the creditors.

“Creditors of the company may submit their claims with proof to the Administrator at the address specified in the declaration on or before December 20, 2021.

“Financial creditors can submit their claims through electronic means only with proof of proof. Other creditors can submit their claims in person by post or electronically,” Reliance Capital said in a regulatory filing.

last month, Reserve bank The board of Reliance Capital was removed citing defaults and governance issues.

The promoters of the company have supported the RBI’s application to refer it to the NCLT under section 227 for a fast-track solution.

Reliance Capital owes over Rs 19,805 crore to its creditors, most of the amount through bonds under trustee Vistara ITCL India.

The company is the third NBFC to go for resolution under Dewan Housing Finance (DHFL) and Kolkata-based IBC. Srei Group,

On Wednesday, the company’s stock closed at Rs 13.40, down 4.96 per cent on the BSE. PTI KPM ABM ABM