New Delhi, 27 May 2022

As per news report of The Indian Express, however, the group has an option to reduce its stake within 18 months, making it compliant to acquire the former Anil Ambani group firm. A consortium, led by Piramal Group, is one of the eight serious contenders for acquiring RCap’s assets, from whom creditors are seeking Rs 23,666 crore in dues. According to Irdai, an investor cannot individually hold more than 10 per cent and jointly more than 25 per cent of the paid-up equity share capital in an insurance firm. Piramal Enterprises (PEL) is the holding company and promoter of Pramerica Life Insurance Company and holds 50 per cent of the firm’s paid-up capital through its stake in DHFL Investments.

Source -The Indian Express

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