{"id":657364,"date":"2026-01-05T17:08:49","date_gmt":"2026-01-05T11:38:49","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=657364"},"modified":"2026-02-08T23:15:24","modified_gmt":"2026-02-08T17:45:24","slug":"rcfl-saga-chronology-of-key-events","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/rcfl-saga-chronology-of-key-events\/","title":{"rendered":"RCFL Saga: Chronology of Key Events"},"content":{"rendered":"
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
S.No.<\/th>\nDate<\/th>\nEvent \/ Description<\/th>\nAttachment \/ Annexure<\/p>\n

 <\/th>\n<\/tr>\n<\/thead>\n

1<\/td>\nJuly 6, 2019<\/td>\nReliance Commercial Finance Ltd. (RCF) and Reliance Home Finance Ltd. (RHF) entered into an Inter-Creditor Agreement (ICA) with lenders under the RBI\u2019s Prudential Framework dated June 7, 2019.<\/td>\nRHF ICA Agreement<\/span><\/a><\/td>\n<\/tr>\n
2<\/td>\nAugust 29, 2019<\/td>\nBank of Baroda (BoB), as the lead bank, appointed Grant Thornton India LLP. Engagement letter for RHF and RCF attached.<\/td>\nRHF Engagement Letter<\/span><\/a>
\nRCF Engagement Letter<\/a><\/span><\/td>\n<\/tr>\n
3<\/td>\nJanuary 2020<\/td>\nGrant Thornton India LLP issued reports for both RCF and RHF.<\/td>\nRHF GT Report<\/span><\/a>
\nRCF GT Report<\/a><\/span><\/td>\n<\/tr>\n
4<\/td>\nJanuary 2020<\/td>\nFollowing the GT reports, RHF obtained seven expert opinions confirming no fraud.<\/td>\nRHF Expert Opinions<\/strong><\/span>
\n1. CJI V N Khare<\/a>
\n2. CJI Dipak Misra<\/a>
\n3. Rajiv<\/a>
\n4. P K Malhotra<\/a>
\n5. V K Sharma<\/a>
\n6. Chhajed & Doshi<\/a>
\n7. Khaitan & Co.<\/a><\/span><\/td>\n<\/tr>\n
5<\/td>\nFebruary 2020<\/td>\nSubsequently, BoB and other lenders requested Grant Thornton to conduct an end-use of funds review in RHF. (Addendum to GT Engagement Letter for both RCF and RHF).<\/td>\nRHF Addendum Letter<\/span><\/a>
\nRCF Addendum Letter<\/a><\/span><\/td>\n<\/tr>\n
6<\/td>\nMay 2020<\/td>\nRHF GT End use report.<\/td>\nRHF GT End-Use Report<\/span><\/a><\/td>\n<\/tr>\n
7<\/td>\nMay 2020<\/td>\nIndependently, RCF and RHF commissioned Brahmya and Singhi to conduct an end-use of funds review, which concluded that 98% of the funds were utilised for repayment of debt within RCF\/RHF or other companies.<\/td>\nBrahmya Report<\/strong>
\nFinal Signed RHFL Certificate<\/span><\/a>
\nFinal Signed_Annexures<\/a>
\nRCFL Certificate<\/a>
\nEnd Use Annexure 1<\/a>
\nEnd Use Annexure 2<\/a><\/span>Singhi Report<\/strong>
\nAnnexure 1<\/span><\/a>
\nAnnexure 2a<\/a>
\nAnnexure 2b<\/a>
\nFinal Report and Annexures<\/a>
\nRHF Singhi End use report<\/a><\/span><\/td>\n<\/tr>\n
8<\/td>\nSeptember 2022<\/td>\nRCF Lenders Implementation Memorandum.<\/td>\nRCF LIM<\/span><\/a><\/td>\n<\/tr>\n
9<\/td>\nDec 2022<\/td>\nYes Bank Assignment documents.<\/td>\nAssignment Agreement \/ Intimation<\/span><\/strong>
\nFile 1<\/span><\/a>
\nFile 2<\/a><\/span><\/td>\n<\/tr>\n
10<\/td>\n2023<\/td>\nRHF Supreme Court Paper Book.<\/td>\nPaper Book<\/span><\/a><\/td>\n<\/tr>\n
11<\/td>\nMarch 2023<\/td>\nRHF Lenders Implementation Memorandum, RHF Business Transfer Agreement, and RHF Debenture Trustee Implementation Memorandum.<\/td>\nRHF LIM<\/a><\/span>
\nRHF BTA<\/a><\/span>
\nRHF DTIM<\/span><\/a><\/td>\n<\/tr>\n
12<\/td>\nSept 2025<\/td>\nCBI Chargesheet Press Release.<\/td>\nPress Release<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

S.No. Date Event \/ Description Attachment \/ Annexure   1 July 6, 2019 Reliance Commercial Finance Ltd. (RCF) and Reliance Home Finance Ltd. (RHF) entered into an Inter-Creditor Agreement (ICA) with lenders under the RBI\u2019s Prudential Framework dated June 7, 2019. RHF ICA Agreement 2 August 29, 2019 Bank of Baroda (BoB), as the lead bank, appointed Grant Thornton India LLP. Engagement letter for RHF and RCF attached. RHF Engagement Letter RCF Engagement Letter 3 January 2020 Grant Thornton India LLP issued reports for both RCF and RHF. RHF GT Report RCF GT Report 4 January 2020 Following the GT […]<\/p>\n","protected":false},"author":1,"featured_media":657428,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[119],"tags":[],"class_list":["post-657364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-magazinenews"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/657364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=657364"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/657364\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media\/657428"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=657364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=657364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=657364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}