In an Investor Meet held some months back, Anilbhai proclaimed “We will be like Arjun, focussed on a single target…we will make Reliance Capital the premier financial services company”
Fast forward to today’s news:
Lenders to GTL Infrastructure declined to share information about the Company in an effort to block a Reliance Capital arm from bidding for the telecom tower company. GTL Infra, where lenders currently own a majority, is running a sale process as part of a strategic debt restructuring exercise. After a decision to deny the Anil Ambani group company from bidding at the joint lenders’ forum (JLF), lenders plan to send questions to Reliance Capital Advisory Services (RCASL) seeking clarity on its intent of the purchase.
The bankers at the JLF expressed concerns over Reliance Capital’s intention to buy GTL Infra, given that its parent group is exiting the telecom tower business. They also discussed RCom’s own strategic debt restructuring plan which is under way and the dues Reliance Communications, the flagship company of the group, still has to pay GTL Infrastructure.
Maybe for the hapless shareholders of the ADAG Group, it would be better if Anilbhai becomes less like Arjuna and instead becomes like Ram and takes a 14 year vanvaas !