by AIP Online Bureau | Aug 4, 2024 | Banking & Bancassurance, Indian News, Life, Non-Life, Regulation
The Administrator, in its affidavit informed NCLT that instead of depositing Rs 2,750 crore in the designated escrow accounts of the Committee of Creditors (CoC) in India and abroad, IndusInd International Holdings Ltd (IIHL) has deposited the money in its own...
by AIP Online Bureau | May 23, 2024 | Indian News, Life, Non-Life, Regulation
The deadline for the implementation of the approved resolution plan was May 27, 2024. NEW DELHI: The administrator of debt-ridden Reliance Capital (RCap) has moved NCLT, seeking a 90-day extension beyond the deadline to implement the Rs 9,661 crore resolution plan...
by AIP Online Bureau | Mar 27, 2024 | Indian News, Life, Non-Life, Regulation
It is also proposed by Hinduja group to raise borrowing for acquisitions of shares of Reliance Capital Ltd , which will also violate the existing regulations, said IRDAI Hyderabad: The Indian insurance regulator IRDAI, as part of its due diligence process,...
by AIP Online Bureau | Feb 11, 2024 | Indian News, Non-Life, Regulation
`This action of yours in provisioning for the KMPs runs contrary to your representation on the solvency ratio post infusion of the additional funds, Also, we, have not granted any approval under section 197 of the Companies Act 013 for the payment of such remuneration...
by AIP Online Bureau | Oct 15, 2023 | Indian News, Life, Non-Life, Regulation
The RBI-appointed Administrator of debt-ridden Reliance Capital (RCAP) wrote to IIHL after Insurance Regulatory and Development Authority of India (Irdai) rejected IIHL’s proposal to raise funds for the RCAP acquisition by creating a pledge over the shares of...
