Earlier 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).
IIHL 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).
Foreign institutional investors (FII) bought shares worth Rs 12,350 crore, whereas domestic institutional investors (DII) sold shares worth Rs 1,021.01 crore on June 28, provisional data from the National Stock Exchange shows.
According to sources familiar with the matter, IIHL, which is the investment arm of the Hinduja Group, received an overwhelming majority of votes from the lenders, with 99.6 percent in favor of its resolution plan for Reliance Capital (RCap).
Torrent Investments Private Limited has moved the Supreme Court against the decision of National Company Law Appellate Tribunal (NCLAT) allowing Reliance Capital Ltd to hold another round of auction for the debt-ridden firm which is undergoing an insolvency process.