Key Points
Mumbai, Feb 27 (PTI) The National Company Law Tribunal on Tuesday approved Hinduja Group firm IndusInd International Holdings Rs 9,650-crore resolution plan for Reliance Capital...
The Mumbai bench of the NCLT approved the plan submitted by IIHL (IndusInd International Holdings Limited) in June 2023 in the second round of bidding for the debt-laden company...
In November 2021, the Reserve Bank had superseded the board of the Reliance Capital on governance issues and payment defaults by the Anil Dhirubhai Ambani Group company..
Reliance Capital had a debt of over Rs 40,000 crore, and four applicants had initially bid with resolution plans..
In June 2023, the Hinduja Group firm was selected by the committee for its bid of Rs 9,661 crore upfront cash..
You might be interested in
Reliance Capital administrator submits Hinduja Group’s IndusInd bid to NCLT for approval
12, Jul, 23IIHL reportedly received an overwhelming majority of votes from the lenders, with 99.6 per cent in favor of its resolution plan for Reliance Capital (RCap).
NCLT admits insolvency plea against Big FM Radio’s operator Reliance Broadcast Network
25, Feb, 23The Mumbai bench of the National Company Law Tribunal (NCLT) has appointed Rohit Ramesh Mehra as an insolvency resolution professional.
Go First airline gets 90-day breather from NCLT
24, Nov, 23The National Company Law Tribunal (NCLT) on Thursday extended the moratorium for the Wadia-owned airline Go First under the Corporate Insolvency Resolution Proc
Reliance Capital to infuse Rs 200 cr into Reliance General Insurance by August end: Report
20, Jul, 23Earlier this month, Reliance Capital submitted an application for the resolution plan of IndusInd International Holdings Ltd (IIHL), the investment arm of the Hinduja Group, with the National Company Law Tribunal (NCLT).
NCLT OKs resolution plan worth ₹250 crore for Unimark Remedies
20, Apr, 23A bench led by Justices Kishore Velumpalli and Prabhat Kumar held that the resolution plan has been approved.
SC refuses to stay NCLT proceedings looking to approve Hinduja's resolution plan to acquire Reliance Capit
25, Aug, 23Gujarat-based Torrent Investments had emerged as the highest bidder with its Rs 8,640 crore in the initial bidding, but a day later the Hinduja Group through IndusInd International submitted a revised bid of Rs 9,000 crore and the same was approved by the lenders in April. Torrents appeal against the IndusInds RP is pending before the SC.
At Rs 10,000 crore, Anil Ambani's Reliance Capital recovery may be only 43%
24, May, 23The recovery, totalling about ₹10,090 crore on factoring in the target company's cash balances and the Hinduja offer, falls short of the ₹12,500-13,000 crore estimated liquidation value.
Reliance Capital lenders to vote on Hinduja arm resolution plan from today
09, Jun, 23The Hinduja Group entity, Indusind International Holdings Ltd. separately will also seek Reserve Bank of India consent for the plan asRBI's 'fit and proper' endorsement is needed for acquirers of financial services companies in bankruptcy resolution exercises.
Hindujas look to raise up to $1b to finance Reliance Capital acquisition
12, Jul, 23The Hinduja family is reportedly exploring raising up to $1bn to fund its acquisition of Reliance Capital, for which it is the preferred bidder. The financing timeline could take between three and six months, depending on legal issues and court approvals for the acquisition, and the final list of financiers could change, sources said.