by AIP Online Bureau | Feb 26, 2025 | Health, Indian News, Life, Non-Life, Regulation
An IIHL spokesperson said that IIHL voluntarily offered to release Rs 2,750 crore in equity capital into Reliance Capital’s account to demonstrate its commitment to completing the transaction. The tribunal accepted the proposal Reliance Capital has three...
by AIP Online Bureau | Dec 15, 2024 | Indian News, Life, Non-Life, Regulation
“Most of the approvals and procedures related to the resolution process of Reliance Capital are complete. Couple of the procedures at the end of the administrator and CoC are to be completed. We hope that all these will be over in the next 4-6 weeks and RCAP...
by AIP Online Bureau | Sep 1, 2024 | Banking & Bancassurance, Health, Indian News, Life, Non-Life, Regulation
According to sources, lenders claimed that IIHL’s move to seek approval from the Department of Industrial Policy and Promotion (DIPP) is an afterthought. It was not even a part of conditions set out by the NCLT while approving the resolution plan on February 27,...
by AIP Online Bureau | Aug 11, 2024 | Banking & Bancassurance, Indian News, Life, Non-Life, Regulation
IIHL, after transferring the funds ,has asked the CoC and administrator to implement the approved resolution plan for Reliance Capital Mumbai: Complying with the National Company Law Tribunal (NCLT), Hinduja owned IndusInd International Holdings Limited (IIHL), the...
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...
