The National Company Law Tribunal (NCLT) has approved a Rs9,861-crore offer by Hinduja Group company IndusInd International Holdings Limited (IIHL) to take over the assets of bankrupt financial servic
IIHL had emerged as the highest bidder with an offer of Rs 9,650 crore to take over debt-ridden Reliance Capital in the second round of auction concluded in April. The Reserve Bank of India (RBI) on November 29, 2021, superseded the board of Reliance Capital in view of payment defaults and serious governance issues.