MUMBAI: Areion Group has formally requested approval from the Reserve Bank of India (RBI) for its planned ₹936-crore acquisition of the troubled mortgage lender Aviom India Housing Finance. Sources indicate that the regulator’s ‘fit-and-proper’ assessment will likely include a detailed investigation beyond just commercial aspects.
The RBI is expected to carefully examine the source of funds, governance history, and ownership structure of Areion Group’s proposed takeover, announced four months ago, as part of its fit-and-proper review, according to the aforementioned sources.
“The regulator’s priority will be to trace the origin of the funds and verify that the acquisition is supported by legitimate, identifiable capital,” stated an insider familiar with the evaluation process.
Areion Group has not yet responded to RealtyDailyNews’s inquiries.
