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ESOPS OF RCAP SUBSIDIARIES
![Reliance General Insurance takes legal opinion on Hinduja's plan to extinguish ESOPs of RCAP subsidiaries](https://img.etimg.com/thumb/msid-104675392,width-100,height-75,resizemode-4/industry/banking/finance/insure/reliance-general-insurance-takes-legal-opinion-on-hindujas-plan-to-extinguish-esops-of-rcap-subsidiaries.jpg)
Reliance General Insurance takes legal opinion on Hinduja's plan to extinguish ESOPs of RCAP subsidiaries
Reliance General Insurance has issued ESOPs to its employees. Khaitan & Co in its legal opinion submitted to the RGIC has opined that under IBC, treatment of assets and liabilities of subsidiary companies are not permitted to be prescribed under a resolution plan for the holding company. The IBC recognises the principle of 'separate legal entity', which means that once incorporated, the company becomes a separate legal person and has a personality that is distinct from the person responsible for its constitution.
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