"The necessary funds have been transferred by Authum to secured creditors, and lenders have signed the business transaction agreement transferring the assets to them. This concludes a process that started over three years ago "a person with knowledge of the arrangement said.

RHFL owed a total of 115,400 million to creditors, Bank of Baroda being the largest. In June 2021, Authum was chosen as the successful bidder for RHFL. The Securities and Exchange Board of India (SEBI) raised concerns about the voting procedure, and a challenge brought by the Shapoorji Pallonji Group resulted in a stay on the distribution of money. As a result, the plan's implementation was postponed.

The loan recoveries in RHFL have increased over the period from 16000 million at the time the letter of intent was sent to more than 30000 million, therefore the delay really benefited lenders. Lenders might enhance their recovery as a result.

The secured creditors' recoveries have increased from the initial plan's 26% to around 29% as a result of the rise in the final amount.

On March 3, the Supreme Court approved the resolution plan, with the option for dissenting debenture holders (DHs) to accept its conditions or pursue other legal avenues to recoup their debts.

In October, Authum completed the acquisition of Reliance Commercial Finance, another business owned by Anil Ambani. Yet, the RHFL transaction is larger in terms of both dues and creditors.