Reliance Capital hives off commercial finance business – Feedback

Reliance Capital today hived off its commercial finance devisio into a separate subsidiary.

“The shareholders of Reliance Capital have approved the transfer of its commercial finance division – Reliance Commercial Finance (RCF) – into a separate wholly owned subsidiary,” said the company in a statement. The transfer was approved by an overwhelming majority of 99.99 per cent votes in favour of the scheme of arrangement at the court-convened general shareholders meeting held on September 10, 2016, company said. RCF is amongst the leading SME lenders in the Indian non-banking finance space with a focus on asset backed lending and productive asset creation. The Company has asset under management including securitized portfolio) portfolio of Rs 16,451 crore as of June 30, 2016.

http://economictimes.indiatimes.com/industry/banking/finance/reliance-capital-hives-off-commercial-finance-business/articleshow/54288263.cms

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