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...
by AIP Online Bureau | Aug 2, 2024 | Banking & Bancassurance, Eco/Invest/Demography, Indian News, Life, Non-Life
Hinduja owned IIHL failed to meet the deadline of July 31. On August 1, Vistra ITCL, the trusteeship acting on behalf of the CoC, wrote a letter to IIHL that it had defaulted on the NCLT order, now lenders reserve their rights and remedies as per the resolution plan...
by AIP Online Bureau | Jun 13, 2024 | Banking & Bancassurance, Indian News, Life, Non-Life, Regulation
IIHL has moved NCLT seeking a 90-day extension beyond the deadline to implement the resolution plan for acquiring Reliance Capital for a consideration of Rs 9,850 crore Mumbai: National Company Law Tribunal (NCLT) will hear the plea of Hinduja Group firm IndusInd...
