Business Standard

Hindujas' Reliance Capital buy faces further delay; matter pending in SC

Matter pending in Supreme Court; group firms to pay Rs 9,661 crore to lenders only after all the clearances

Reliance capital
Premium

Dev Chatterjee Mumbai

Listen to This Article

Mauritius-based IndusInd International Holdings and other Hinduja group entities are expected to make payments worth Rs 9,661 crore for the acquisition of bankrupt Reliance Capital (RCap) only after getting all the legal and regulatory clearances, including from the Supreme Court, thus delaying the closure of the transaction.

A source close to the development said that according to the National Company Law Tribunal (NCLT) order dated February 27, the payment for the acquisition was to be made within 90 days from the NCLT’s approval of the resolution plan and after receiving all legal and regulatory clearances.
 
As the matter is still

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 17 2024 | 12:09 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com