IIHL is yet to get a nod from insurance watchdog Irdai for its Rs 9,650-crore acquisition of Reliance Capital. IIHL said it will be able to pay the sum it has bid for within 48 hours of the Irdai nod and complete the deal.
IIHL awaits Irdai approval for Rs 9,650-crore Reliance Capital acquisition, ready to pay promptly. NCLT deadline nears with funding secured. Plans include Nippon collaboration, health insurance launch, and Afrinex listing aspiration.
Concerned over slow progress, the lenders of debt-ridden Reliance Capital (RCAP) have asked the Hinduja Group arm, IndusInd International Holdings Ltd, to expedite the process of obtaining necessary regulatory approvals and stick to the resolution plan deadline of May 27.
In a meeting held in
Lenders of Reliance Capital urge IndusInd International Holdings Ltd (IIHL) to accelerate regulatory approvals for the resolution plan, emphasizing the May 27 deadline. IIHL is expected to pay Rs 9,650 crore by then. Delays in IRDAI approval for the transfer of insurance businesses raise concerns over meeting deadlines.