Mumbai: The Reserve Bank of India (RBI) on Friday appointed Vikramaditya Singh Khichi, former ED of Bank of Baroda, on a panel to advise the administrator of crisis-ridden Anil Ambani-promoted Reliance Capital.

Composition of the panel

Khichi has been appointed in the advisory committee of Reliance Capital consequent upon the resignation of Srinivasan Varadarajan from the panel. The other two members of the advisory committee are Sanjeev Nautiyal (former DMD, State Bank of India) and Praveen P Kadle (former MD & CEO of Tata Capital Limited).

'Advisory Committee to advise Administrator in the operations during corporate insolvency resolution process'

"The Advisory Committee shall advise the Administrator in the operations of Reliance Capital Ltd during the corporate insolvency resolution process," RBI said.

In November 2021, the RBI had superseded the board of Anil Ambani-promoted Reliance Capital Ltd (RCL) and later initiated bankruptcy proceedings against the debt-ridden NBFC in view of payment defaults and serious governance issues.

In September 2021, Reliance Capital in its annual general meeting (AGM) had informed shareholders that the company's consolidated debt was Rs 40,000 crore.

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