Debt-ridden firm Reliance Capital on Monday raised objection to the proposed 33.12 per cent stake sale of Prime Focus (PFL) by Credit Suisse to PFL’s promoter group at ~44.15 per share.
Anil Ambani’s Reliance Group company Reliance Capital termed the proposed transaction as a blatant abuse of the purported rights by Credit Suisse under certain lending agreements with the RCAP Group, the company said in a statement.
However, Reliance Capital did not share the details of the “blatant abuse of the purported rights”.
Reliance Mediaworks Financial Services Private Limited, an RCAP Group company, is one of the investors in PFL — promoted by …
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