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MUMBAI: Sam Ghosh, who headed Reliance Capital for 9 years till 2017, has utilized for a small finance financial institution (SFB) licence by means of his agency Cosmea Monetary Holdings. Ghosh is making a play into monetary providers and , with the backing of personal fairness buyers, and is taking a look at numerous alternatives together with companies of Reliance Capital which might be on sale as a part of a debt-resolution plan.
The RBI on Monday launched the names of candidates for a small finance financial institution licence. Apart from Cosmea, Tally Options, an organization synonymous with accounting software program in India, has additionally utilized for a financial institution licence. Tally’s services and products are utilized by companies throughout India and in over 100 international locations.
Reliance Capital’s asset monetization course of is being carried out underneath instructions from the committee of debentures holders and the debenture trustee Vistra ITCL India, which account for 93% of the corporate’s debt.
Sources near Ghosh stated that he was bidding for RCap property. The finance skilled plans to both constructed a brand new monetary providers enterprise or purchase current corporations. The appliance for an SFB is a part of plan to construct new enterprise.
In response to a question Cosmea stated in a press release “We affirm our utility for a small finance financial institution. We’re PE-funded and the licence is according to Cosmea’s plans of gaining a powerful foothold in a number of companies within the BFSI sector. We can’t disclose any additional info at this juncture.
Ghosh had come to India as German insurer Allianz’s consultant and headed first the final and subsequently the non-life three way partnership with Bajaj. In 2008 he moved to Reliance Capital as CEO. He was instrumental in rising the life and non-life enterprise and establishing a partnership with Nippon Life. In 2017 he stop the group to hitch Bharti group’s monetary providers enterprise. In 2019, Ghosh stop Bharti to pursue his plans in monetary providers.
The RBI on Monday launched the names of candidates for a small finance financial institution licence. Apart from Cosmea, Tally Options, an organization synonymous with accounting software program in India, has additionally utilized for a financial institution licence. Tally’s services and products are utilized by companies throughout India and in over 100 international locations.
Reliance Capital’s asset monetization course of is being carried out underneath instructions from the committee of debentures holders and the debenture trustee Vistra ITCL India, which account for 93% of the corporate’s debt.
Sources near Ghosh stated that he was bidding for RCap property. The finance skilled plans to both constructed a brand new monetary providers enterprise or purchase current corporations. The appliance for an SFB is a part of plan to construct new enterprise.
In response to a question Cosmea stated in a press release “We affirm our utility for a small finance financial institution. We’re PE-funded and the licence is according to Cosmea’s plans of gaining a powerful foothold in a number of companies within the BFSI sector. We can’t disclose any additional info at this juncture.
Ghosh had come to India as German insurer Allianz’s consultant and headed first the final and subsequently the non-life three way partnership with Bajaj. In 2008 he moved to Reliance Capital as CEO. He was instrumental in rising the life and non-life enterprise and establishing a partnership with Nippon Life. In 2017 he stop the group to hitch Bharti group’s monetary providers enterprise. In 2019, Ghosh stop Bharti to pursue his plans in monetary providers.
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