109281This is how low salary people should avail credit card benefits!

Abu Dhabi Investment Authority i.e. ADIA is in talks with Aditya Birla Group. These talks are related to investing around Rs 1,200-1,500 crore in Aditya Birla Health Insurance, ie., ABHICL, a company related to the group’s health insurance business. According to the data of Insurance Regulator IRDAI, Aditya Birla Health Insurance is one of the five most active health insurance companies in the country with 14% market share. Apart from ADIA, select sovereign wealth funds or SWFs of the world are also interested to buy stake for which talks are likely to start in the coming few weeks. SWFs are eyeing to buy small stake in Aditya Birla Health Insurance through this deal.

Reliance Capital lenders for equitable distribution
The majority of Reliance Capital lenders Monday agreed on equitable distribution of proceeds among assenting and dissenting creditors, a move aimed to discourage negative voting on the plan, said people aware of the development. Lenders expect a recovery of about Rs 10,090 crore from the sale of Anil Ambani promoted financial services company, which is below the liquidation value pegged at Rs 12,500-13,000 crore. As per the Insolvency and Bankruptcy Board of India, dissenting creditors are entitled to receive pro-rata payment as per the liquidation value while the assenting creditors are entitled to receive money from proceeds based on the approved plan. This rule is aimed at discouraging lenders from voting against a plan. Nearly 99% of lenders voted for equitable distribution of proceeds.  The voting will be held next month. Meanwhile, Reliance Capital, reported consolidated net loss narrowing  to Rs 1,488 crore in the fourth quarter ended March 2023. The company posted a net loss of Rs 4,249 crore in the January-March quarter of the last fiscal. Its total consolidated income decreased to Rs 4,436 crore from Rs 4,770 crore YoY.