HINDUJA GROUP BANKRUPTCY

Lenders of Reliance Capital, promoted by Anil Ambani, have submitted an affidavit to the bankruptcy court stating conditions for granting a 90-day extension to the winning bidder, a Hinduja Group entity. The extension would require depositing Rs 2,7...

The National Company Law Tribunal (NCLT) will hear a plea from Hinduja Group firm IIHL on June 20 for an extension of the deadline to complete Reliance Capital's resolution. IIHL, the successful bidder for Reliance Capital, seeks a 90-day extension ...

Reliance Capital's administrator has filed a request for a 90-day extension to implement a resolution plan submitted by the Hinduja Group, which was approved by the National Company Law Tribunal (NCLT) Mumbai. The resolution plan, approved by the tr...

IndusInd International Holdings (IIHL), a holding company of IIHL BFSI (India), received the NCLT nod to buy the financial services firm for ₹9,661 crore.

IRDAI expected to approve IndusInd International Holdings' acquisition of Reliance Capital's 3 insurance companies. NCLT endorsed IIHL's ₹9,650 crore resolution plan for Reliance Capital. Hinduja Group's Aasia Enterprises aids in equity infusion.

Japanese banks may derive comfort from Reliance Capital's association with Nippon Life, a joint venture partner of the former, according to the sources. The two together run a life insurance joint venture in India.

The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday allowed an application filed by the administrator of Reliance Capital and directed Hinduja Group-owned IndusInd International Holdings Ltd (IIHL) to implement the resolution p...

The National Company Law Tribunal (NCLT) approved the ₹9,650 crore resolution plan of IIHL in its order dated February 27. Torrent Investments, which was the other bidder in the fray, has contested the resolution process, and the matter is pending b...

IndusInd International Holdings had submitted its plan in June 2023 in the second round of bidding for the debt-laden company that was originally promoted by Anil Ambani.

The bankruptcy court in Mumbai approved the acquisition of Reliance Capital by IndusInd International Holdings Ltd. A monitoring committee will be formed to monitor the plan implementation. The Supreme Court is involved in a dispute between Torrent ...

The bankruptcy court in Mumbai is expected to announce its ruling on Tuesday regarding the application filed by the administrator of Reliance Capital Ltd for the approval of its acquisition by IndusInd International Holdings Ltd through the insolven...

The group's acquisition of Reliance Capital is pending necessary court and regulatory approvals. Its offer of ₹9,650 crore was approved by the committee of creditors (CoC) in July last year, subject to requisite approvals.

IIHL had emerged as the highest bidder with an offer of Rs 9,650 crore to take over debt-ridden Reliance Capital in the second round of auction concluded in April. The Reserve Bank of India (RBI) on November 29, 2021, superseded the board of Relianc...

The Hinduja group is eying a valuation of $35-40 billion for its banking, financial services, and insurance (BFSI) business. Ashok Hinduja, stated that their promoter company, IndusInd International Holdings Ltd (IIHL), will expand into the BFSI sec...

While major lenders have offered term sheets of up to ₹6,000 crore, smaller funds have shown interest in providing loans ranging from ₹800 crore to ₹1,000 crore, contributing to the larger financing package.

Hinduja Group is in talks with offshore lenders to raise $800mn (Rs 6,660 crore equivalent) to acquire the finance company under the Insolvency and Bankruptcy Code, the people said. Lenders have unanimously voted in favour of a Rs 9,660-crore plan o...

​​The Hinduja Group entity, Indusind International Holdings Ltd. separately will also seek Reserve Bank of India consent for the plan asRBI's 'fit and proper' endorsement is needed for acquirers of financial services companies in bankruptcy resoluti...

The majority of Reliance Capital lenders Monday agreed on equitable distribution of proceeds among assenting and dissenting creditors, a move aimed to discourage negative voting on the plan, said people aware of the development. Lenders expect a rec...

According to sources, both the bidders have made it clear to the Committee of Creditors (CoC) that unless the issues raised by them are duly resolved to their complete satisfaction, they are unlikely to participate in the second round of auction.