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Altico Capital submits ownership change application to RBI

Updated : July 17, 2020 03:39 PM IST

Altico Capital on Friday filed an application with the Reserve Bank of India (RBI) for a transfer in its ownership to Hong Kong-based SSG Capital.
A senior executive of Altico Capital said SSG Capital's resolution plan was being implemented smoothly and that employees' issues were laid to rest, without divulging any further details.
SSG Capital's proposal, which was cleared by banks in March, includes Rs 2,754 crore as upfront cash payment to the lenders and another Rs 354 crore in the form of security receipts.

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