RBPL is associated with Reliance Infrastructure.
Reliance: Another company of debt-ridden Anil Ambani, Reliance Big Private Limited (RBPL), is expected to soon get a new owner. The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the acquisition petition by businessman Manoj Kumar Upadhyay and his associate company ACME Cleantech Solutions. The acquisition will be completed through the insolvency resolution process led by Manoj Kumar Upadhyay.
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Founded on December 8, 2006, RBPL owns a wind energy generator in Tenkasi, Tamil Nadu. The company also has land in the state’s Tiruvallur and Tirunelveli districts. RBPL supplied electricity to the Tamil Nadu Electricity Board. Reliance Big is also associated with Reliance Infra. The company was also involved in commodity trading.
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A cash payment of 4 crore rupees will be made.
RBPL is associated with Reliance Infrastructure and is also involved in commodity trading. The successful revival plan totals 3.51 crore rupees, which will be given to the secured financial creditors of RBPL. Additionally, according to the resolution plan, a cash payment of 4 crore rupees will be made to the company by the successful bidder.
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The company has a debt of 1,000 crore rupees. It is worth noting that RBPL has a liability of about 1,000 crore rupees. The secured creditors of RBPL, Axis Trustee Services, hold 48.42% of the voting rights. The company has an outstanding amount of 483 crore rupees. Among unsecured creditors, JC Flowers ARC holds 51.58% of the voting rights. There are approved claims of 515 crore rupees.
