Reliance Home Finance

Reliance Home Finance Limited, promoted by Reliance Capital, is a financial services company that recently faced severe financial stress due to a major liquidity crisis. The company's primary business was housing finance in India, but it has now substantially discontinued these activities after transferring its entire business undertaking to another firm. Due to this crisis, it was unable to service its dues to lenders, which led to the creation of a formal debt resolution plan by its creditors. This resolution plan, approved by the Supreme Court of India, involved transferring the company's assets and liabilities to a subsidiary of Authum Investment & Infrastructure Limited. Following the business transfer, the company's Assets Under Management became Nil as of March 31, 2023, compared to ₹11,857 crore in the previous year. The company's board has now approved the surrender of its housing finance registration and is pursuing voluntary liquidation, subject to necessary permissions and sanctions.;