CoC rejects Rs 600 crore fund infusion into Reliance General Insurance

The creditors committee (CoC) of bankrupt Reliance Capital has rejected a request for a fresh capital injection of Rs 600 crore to RCL subsidiary Reliance General Insurance. Insurance companies have asked for an infusion of funds to quote a solvency margin. A source said because the company is in the advanced stages of bankruptcy proceedings, it will not be able to offer more funding. RCL’s bankruptcy proceedings are pending at the National Company Law Court of Appeal.