Corporate News     14-Jul-23
Lending biz of Reliance Commercial Finance to be consolidated with Authum Investment & Infrastructure
The Board of Authum Investment & Infrastructure has at its meeting held on 14 July 2023, approved the demerger of the lending business of Reliance Commercial Finance (RCFL or Demerged Company) to Authum Investment & Infrastructure (AIIL or Resulting Company). The objective of the demerger is to consolidate NBFC business activities into a single entity i.e. the lending business of RCFL shall be consolidated with AIIL for operational synergies and growth of business.

Upon the Scheme becoming effective, no shares of the Resulting Company shall be allotted in lieu or exchange of the holding of equity shares and preference shares in the Demerged Company. Accordingly, AIIL will continue to be holding company of RCFL.

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