A consortium of lenders led by Bank of Baroda and comprising 30 other banks, took part in the resolution of debt availed by Reliance Home Finance Limited, a subsidiary of Reliance Capital Limited, under the Reserve Bank of India (Prudential Framework for Resolution of Stressed Assets) Directions, 2019 dated June 7, 2019.

J. Sagar Associates advised the consortium of lenders in this deal.

The JSA Banking & Finance team consisted of Dina Wadia (Partner),
Soumitra Majumdar (Partner) and Abhay Agarwal (Principal Associate).

The JSA Disputes team consisted of Varghese Thomas (Partner), Divyam Agarwal (Partner), Fatema Kachwalla (Partner), Yohaann Limathwalla
(Principal Associate), Pallavi Kumar (Principal Associate), Angad Baxi
(Senior Associate) and Pranav Tanwar (Associate).

After running a fair and competitive process, the lenders approved the resolution plan submitted by Autumn Investment & Infrastructure Limited (“Authum”). The resolution plan entailed acquisition by Authum of the business undertakings of RHFL.

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