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.
NCLT approves Hinduja Group s resolution plan for Reliance Capital takeover thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
India Business News: Mumbai: IndusInd International Holdings' (IIHL) proposal for a leveraged buyout of Reliance Capital (RCL) faces a setback, as the insurance regulator .
The committee of creditors of Reliance Capital approved last week a proposal to infuse capital – a move that would help the private insurer to retain its market share in the non-life industry. Reliance General Insurance is the most valuable asset through which lenders hope to recover a substantial part of their dues, and any dip in its valuation would correspondingly lower the company s valuation, said one of the lenders.