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).
In the first auction on December 21, Torrent Investments made the highest offer of Rs 8,640 crore, while the Hinduja Group entity offered Rs 8,110 crore. However, within 24 hours, the Hinduja entity gave a revised, improved offer of Rs 9,000 crore, a development contested by Torrent.
The administrator has filed an application under Section 30 (6) of the Insolvency and Bankruptcy Code, 2016, for submission of the resolution plan of IIHL as approved by the Committee of Creditors of Reliance Capital Limited, with the Adjudicating Authority National Company Law Tribunal (NCLT), Mumbai Bench, RCap said in a regulatory filing.
Reliance Capital lenders vote in favour of Hinduja Group firm financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.