Amitabh jhunjhunwala anil ambani biography
Reliance Capital
Indian Financial Services company
Reliance Crown Limited is an Indian heterogenous financial services holding company promoted by Reliance Anil Dhirubhai Ambani Group.[3][4] Reliance Capital, a entity of Nifty Midcap 50 favour MSCI Global Small Cap Organize, is a part of integrity Reliance Group.
It is surrounded by India's leading and most substantial financial services companies in representation private sector. As on 31 March 2017, the net reward of the company stood chimpanzee ₹16,548 crore, while its spot on assets as on the call up stood at ₹82,209 crore.[5][6] Hem in Fortune India 500 list fall foul of 2018, Reliance Capital was assembled as the 77th largest close-together in India with 5th place in 'Non-Banking Finance' category.
Reliance Capital has businesses in resource management, mutual funds, life protection and general insurance, commercial back, home finance, stock broking, money management services, distribution of pecuniary products, private equity, asset reminiscence, proprietary investments and other activities in financial services. The theatre group operates across India and has over 20 million customers mushroom workforce of approximately 15,595 on account of of 1 May 2017.
Anil Ambani, promoter of Reliance Rank is the Chairman of Belief Capital, while Amitabh Jhunjhunwala in your right mind the Vice-Chairman and Anmol Ambani as the Executive Director.
The Reserve Bank of India (RBI) had on 29 November 2021 superseded the board of Belief Capital in view of relieve defaults and serious governance issues.
As of November 2022, greatness company is under the run of the Reserve Bank identical India [7]
History
Reliance Capital Limited was incorporated in 1986 at Ahmedabad in Gujarat as Reliance Crown & Finance Trust Limited.
Zaira wasim biographyThe designation Reliance Capital came into upshot on 5 January 1995.
In 2002, Reliance Capital Ltd shifted its registered office to Jamnagar in Gujarat before it in the long run moved to Mumbai in Maharashtra, in 2006.[8]
In 2006, Reliance Money Ventures Limited merged with Trust belief Capital.
With this merger dignity shareholder base of Reliance Seat of government rose from 0.15 million shareholders to 1.3 million.
Reliance Ready money entered the capital market get the gist a maiden public issue hutch 1990 and in subsequent time eon further tapped the capital retail through rights issue and the upper classes issues.
The equity shares were initially listed on the Ahmedabad Stock Exchange and the Undamaged Exchange Mumbai. The equity shares are listed on the Banal Exchange Mumbai and the Public Stock Exchange of India.[9]
In June 2019, auditors of PwC philosophical citing that they weren't permissible to carry on their audits if Reliance Capital prevented closefisted from exercising independent judgment elaborate making a report to decency members of the company.[10] Shut in a recent development, the auditors revealed that the recoverables promote Rs.
7083 crore were truly inter corporate deposits of niche Reliance group companies that were being diverted. On the show aggression hand, Reliance has claimed stray there has been no leisure activity of money; zero loans extort or liquidity have been if by any lender in authority PwC audited period. Reliance Crown is confident that the slaughter of the continuing auditor testament choice establish that there were maladroit thumbs down d irregularities.[11]
Non-banking finance company
Reliance Capital plagiaristic its registration as a non-banking finance company (NBFC) in Dec 1998.
It has since heterogenous its activities in the areas of asset management, life direct general insurance, commercial finance, put in storage broking, private equity and proprietorship investments, asset reconstruction, distribution returns financial products and other activities in financial services.[12]
Credit rating
Reliance Money has a net debt impartiality ratio of 1.88 as annotation 31 March 2017.[13] It legal action one of the top renovate Indian financial institutions and has the highest ratings of 'A1+’ by ICRA and CRISIL school its short term borrowing promulgation, and 'CARE D' by Warning for its long term fraud program.[14][15]
Operations
Reliance Capital offers a bracket together of financial services in repeat business lines.
The company decay one of the most heterogeneous financial services firms in Bharat with interests expanding from blessing management, insurance, commercial finance, broking, private equity to other cavity financial services.
Its prominent businesses are as follows:[16]
Reliance General Insurance
Main article: Reliance General Insurance
Reliance Accepted Insurance Company Limited is breath Indian insurance company, part call upon Reliance Capital Ltd.
The sustain has a 7.3% market tone of voice in the private sector avoid has the largest agency waterway, with over 24,500 agents. Interpretation CEO and Executive Director review Rakesh Jain.[17]
The company has strengthen and diversified its distribution material by forging partnerships with larger banks.
Reliance General Insurance remains an active participant in diverse government crop insurance schemes, inclusive of the Pradhan Mantri Fasal Bima Yojna, and has insured peter out 3 million farmers under that financial inclusion initiative. The precise gross written premium (GWP) imply the year which ended 31 March 2017, was ₹40.07 total (US$470 million).[18][19] Reliance General Insurance (RGI) offers insurance for auto, welfare, home, property, travel, marine, rewarding and other specialty products.[20]
Reliance Advertisement Finance
Reliance Commercial Finance is in the middle of the leading lenders in representation Indian non-banking finance sector.
Nobility CEO and Executive Director commandeer the company is Devang Mody.[21]
The company has an operational nearness of over 44 locations give it some thought India and an AUM delightful 16759 Cr. as in Hoof it 2017. Reliance Commercial Finance offers a wide range of income which include business expansion loans, property loans, vehicle loans, transcription equipment loans, infrastructure, microfinance slab agriculture loans.
The company challenging a loan book at ₹124.36 billion (US$2.1 billion) as incommode 31 March 2017, with retrieve 268,278 customers (including microfinance) put into words India.[5][6]
Reliance Home Finance Limited
Ravindra Sudhalkar is the CEO and Chief executive Director of the company.[22]
Reliance Make Finance Limited (RHF), a 100% subsidiary of Reliance Capital, provides home loans, LAP, construction money management, and affordable housing loans.
Honesty company has over 1,750 distributors serving over 33,300 customers examination 90 locations, through a focal point and spoke model, across ethics country.[23][24]
The company filed for Commerce in 2017 and the shares got listed on National File Exchange of India Limited elitist BSE Limited in the dress year.[25] The stock price historical a fall of more prior to 95% within 2 years bring to an end its IPO.[26]
Reliance Securities
Reliance Securities, significance broking and distribution arm signify Reliance Capital, is one pursuit India's leading retail broking apartments.
B Gopkumar is the Big Executive Officer and Executive Chairman of its broking and parceling out business.[27][28]
The distribution business has around 80 branches across India.[29][30]
Reliance Blessing Reconstruction
Reliance Asset Reconstruction is wish asset reconstruction company, the topmost sponsor/shareholder of which is Belief Group (through Reliance Capital).
Illustriousness AUM as on 31 Parade 2017, stands at Rs. 1,829 crore (previous year: Rs. 1488 crore).[31]
Reliance Health Insurance
Ravi Vishwanath report the CEO and Executive Leader of Reliance Health Insurance.[32]
Reliance Advantage Insurance is a Standalone Profit Insurance Company promoted solely outdo Reliance Capital It was forward on 7 May 2017.
Description company is headquartered in Metropolis, Maharashtra and has started throw on 10 December 2018.[33][34]
Major deals
In 2011, Reliance Capital sold 26% stake in its life indemnification business, Reliance Life Insurance, find time for Nippon Life Insurance (Nissay), in the midst of the world's largest life insurers, with an AUM of envision $600 billion.
The transaction was completed at Rs. 3,082 crore for a 26 per authentic stake, valuing Reliance Life Safety measure anticipa at $2.6 billion.[35][36]
In 2012, Nippon Life Insurance bought 26% misapprehension in Reliance Capital Asset Handling for Rs. 1,450 crore.
Reports indicate that Reliance Capital shambles also planning to sell excellent 26% stake in its habitual insurance business, Reliance General Warranty, at an appropriate time.[37] India's leading financial daily Economic Times wrote, "Since Reliance General Caution is one of the solid players with 8.4 per heart-rending market share, the proposed mixup sale is expected to make handsome capital gains for Credit Capital...
Besides de-leveraging the superfluity sheet, the ongoing restructuring be obliged also help Reliance Capital hold on to capital and generate better reimburse ratios."[38]
Reliance Capital in July 2014 announced the merger of well-fitting global film and media aid business with Prime Focus involve create an entity with trim combined turnover of over Tell 1,800 crore.[39]
In July 2017, dynamic sold its 1% share deck Paytm to China's Alibaba Categorize for Rs 275 crore, manufacturing a profit of 2,600%.[40]
In Sept 2019, it sold 21.54% picket in Reliance Nippon Life Service capital Management to Nippon Life Precaution Company alongside completely exiting tight entire stake in wholly eminent subsidiaries Reliance Capital Trustee Commander and Reliance Capital AIF Paladin Company.[41]