INDUSIND INTERNATIONAL HOLDINGS
Titan, IndusInd Bank among 20 stocks to trade ex-dividend this week. Do you own any?
20 companies, including Nifty companies Titan and IndusInd Bank, have set record dates this week to determine dividend payouts. Shareholders buying stock at least one day before the ex-date are eligible for dividends under the T+1 framework, where ex-date and record date align in most cases.
Reliance Cap resolution: NCLT to hear IIHL plea for deadline extension on June 20
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 beyond the May 27, 2024 deadline set by NCLT Mumbai for completing the Rs 9,650-crore resolution plan. Reliance Capital, the financial services arm of Anil Ambani Group, had its board superseded by the RBI in November 2021, and IIHL's resolution plan was approved by NCLT in February 2024.
Reliance Capital administrator seeks 90-day extension from NCLT to implement resolution plan
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 tribunal, was for IndusInd International Holdings Ltd's Rs 9,650-crore plan. Reliance Capital's board was replaced by the Reserve Bank in November 2021 due to governance issues and payment defaults. The company's debt is over Rs 40,000 crore.
Hindujas' acquisition of Reliance Capital hits financing hurdle
"IndusInd International Holdings (IIHL) is trying to reduce the cost by nearly one percentage point and is seeking a cheaper loan through ongoing discussions with the lenders," one of the sources said. "The loan arrangement must be finalised before May 27, as IndusInd International Holdings needs to close the Reliance Capital deal by then," the person added.
Reliance Capital Administrator seeks 10 days extension from RBI to transfer assets to Hinduja Group
The National Company Law Tribunal (NCLT) Mumbai, while approving the resolution plan on February 27, directed IndusInd International Holdings Ltd to implement it within 90 days ending May 27.
Hindujas get Irdai nod for buying Reliance Capital business; conditions apply
According to sources familiar with the situation, the insurance regulator has granted approval for the Hinduja Group to acquire Reliance Capital's life, general, and health insurance businesses, with the condition that shares of the companies will not be pledged. However, the deal is still pending approval from the Reserve Bank of India (RBI) and the Competition Commission of India (CCI).
Irdai gives in-principle nod for Hinduja Group-led IIHL bid for Reliance Capital takeover
The Insurance sector regulator IRDAI has conditionally approved Hinduja Group's IndusInd International Holdings Ltd (IIHL) for the acquisition of debt-ridden Reliance Capital.
IndusInd sets itself a new Rs 4.2 lakh crore target, eyes 2030 timeline
Under the new plan, IIHL is looking to set up a banking, financial services, and insurance portfolio worth $50 billion (Rs 4.2 lakh crore) by 2030. This is including its investment in IndusInd Bank, apart from the new businesses under Reliance Capital, which IIHL won in insolvency proceedings.
IRDAI nod likely soon for IIHL's buyout of Reliance Capital's three insurance arms
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.
Reliance Capital lenders urge Hinduja Group arm to stick to resolution plan deadline
Lenders of Reliance Capital urge IndusInd International Holdings Ltd (IIHL) to accelerate regulatory approvals for the resolution plan, emphasizing the May 27 deadline. IIHL is expected to pay Rs 9,650 crore by then. Delays in IRDAI approval for the transfer of insurance businesses raise concerns over meeting deadlines.
IndusInd International to buy 60% in Invesco AMC
Invesco will retain a 40% stake in the fund house, while both IIHL and Invesco will have sponsor status. The size of the deal has not been disclosed. IIHL is the promoter entity of IndusInd Bank.
IRDAI seeks more details from IIHL to approve deal for Reliance Capital's insurance business
Dated March 20, the letter by the Insurance Regulatory and Development Authority of India (IRDAI) was in response to a request by administrator Nageswara Rao Y to approve the transfer of RCap's shares in three insurance companies to Aasia Enterprises LLP, another Hinduja group company. In February, the National Company Law Tribunal (NCLT) had approved a ₹9,661-crore resolution plan by IIHL, Aasia Enterprises LLP and IIHL BFSI (India) Ltd for the previously Anil Ambani-owned RCap.
Hinduja company taps Japanese banks to fund Reliance Capital buy
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.
NCLT directs IIHL to complete Reliance Capital’s resolution plan within 90 days
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 plan for the financial services holding company by May 27.
NCLT clears IndusInd International's Rs 9,650 crore bid for RCap; lenders to take 63 pc haircut
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.
NCLT approves Hinduja Group’s revival plan for Anil Ambani-promoted Reliance Capital
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 Investments and Hinduja Group bids.
NCLT set to pronounce ruling on Hinduja group's resolution plan for Reliance Capital
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 insolvency resolution process.
Hindujas may borrow ₹4,000 crore to fund Reliance Capital purchase
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.
CCI clears IndusInd International Holdings Ltd-Reliance Capital deal
In July, Hinduja group-owned IndusInd International Holdings (IIHL), the promoter of IndusInd Bank, announced a USD 1.5-billion capital-raising plan to fund the proposed acquisition of Reliance Capital and increase its stake in the lender. The board of the Mauritius-registered IIHL also decided to increase its holding in Reliance Capital to 26 per cent from the present 15 per cent.
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