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Hinduja’s IIHL says ready with ₹2,750 cr, seeks modification of order | Mint

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IndusInd International Holdings Ltd (IIHL) has stated that it is ready with a ₹2,750-crore initial fund to acquire Reliance Capital. IIHL has requested an extension of the deadline given by the National Company Law Tribunal (NCLT) to comply with the acquisition order. The NCLT had previously given IIHL time till 10 August to implement its resolution plan for Reliance Capital. IIHL has sought modification of the order, stating that failure to do so would pose challenges in implementing the plan. Additionally, IIHL mentioned that certain details are required for fund remittances from banks in Mauritius.