🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
NCLT approves Hinduja Group’s resolution plan for Reliance Capital takeover
Thehindubusinessline
·
1y ago
Medial
The National Company Law Tribunal (NCLT) has approved IndusInd International Holdings' resolution proposal for acquiring Reliance Capital. The Hinduja Group company has been given 90 days to implement the resolution, pending regulatory and other approvals. The proposal includes an upfront cash payment of ₹9,650 crore and an additional amount for the benefit of the creditors. The transaction is subject to approval from several regulatory authorities, including the RBI, SEBI, IRDAI, and CCI. Once completed, Hinduja Group will own the majority shares in Reliance Capital, which will no longer be listed on the stock exchange.
View Source
Related News
NCLT dismisses Anil Dhirubhai Ambani Ventures’ plea to block use of ‘Reliance’ brand by Hinduja Group
Livemint
·
9m ago
Medial
The National Company Law Tribunal (NCLT) has rejected Anil Dhirubhai Ambani Ventures' plea to prevent the Hinduja Group from using the 'Reliance' brand in its takeover of Reliance Capital. The dispute arises from a 2014 licensing agreement that allowed Reliance Capital to use the brand for 10 years. Although the agreement was terminated in June 2021, NCLT’s order permits the Hinduja Group to use the brand for three years. Anil Dhirubhai Ambani Ventures argues that the brand is not an asset under the Insolvency and Bankruptcy Code and was not consulted on the decision. The resolution plan, worth ₹9,681 crore, has not yet been implemented.
View Source
Anil Dhirubhai Ventures moves NCLT in Reliance Capital case | Mint
Livemint
·
11m ago
Medial
Anil Dhirubhai Ambani Ventures Pvt. Ltd (ADAVL) has filed an application in the National Company Law Tribunal (NCLT) requesting them to direct IndusInd International Holdings Ltd (IIHL) to stop using the brand 'Reliance' after the resolution plan is executed. In February, IIHL's takeover of Reliance Capital was approved by the NCLT, allowing them to use the brand for three years. ADAVL argues that the brand agreement does not create any ownership rights for Reliance Capital and requests the immediate cessation of brand usage by IIHL. ADAVL also claims that they weren't involved in the resolution plan discussions. The matter will be heard by the NCLT on Tuesday.
View Source
Reliance Capital resolution: CoC warns of remedial action against IIHL
YourStory
·
1y ago
Medial
Lenders of Reliance Capital have warned IndusInd International Holdings, the Hinduja Group arm, for failing to comply with the National Company Law Tribunal (NCLT)-imposed conditions. These conditions included depositing Rs 250 crore in an escrow account by July 31. The deadline was missed, and lenders have reserved their rights and remedies as per the resolution plan submitted. IIHL was given an extension until August 10 to meet the conditions set by the NCLT, Mumbai, for its bid on Reliance Capital, which has a debt of over Rs 40,000 crore.
View Source
NCLT directs RBI, DIPP to expedite approvals for Hinduja’s takeover of Reliance Capital | Mint
Livemint
·
12m ago
Medial
The National Company Law Tribunal (NCLT) has directed the Reserve Bank of India (RBI) and the Department of Industrial Policy and Promotion (DIPP) to expedite approvals for the acquisition of Reliance Capital by IndusInd International Holdings Ltd (IIHL), owned by Hinduja group. The NCLT emphasized the importance of these approvals for the release of funds as part of the resolution plan. The Hindujas had requested an extension to navigate the complexities of the plan's execution. Various approvals from regulatory bodies like Sebi and Irdai also require renewal. The next hearing is scheduled for 28 August.
View Source
NCLT allows RCap administrator's plea on implementation of resolution plan
Livemint
·
1y ago
Medial
The National Company Law Tribunal (NCLT) has granted permission to Reliance Capital's administrator to seek directions for the completion of payment by IndusInd International Holdings Ltd, as per the approved resolution plan. This comes after concerns were raised about the implementation of the plan. The resolution plan by Hinduja Group's IndusInd International Holdings worth ₹9,650 crore was approved last month, but pending regulatory approvals have delayed the process. The NCLT's directive highlights the importance of adhering to approved timelines in insolvency and bankruptcy proceedings.
View Source
RCap resolution: NCLAT seeks Hinduja’s reply on lenders’ plea to forfeit equity | Mint
Livemint
·
10m ago
Medial
The National Company Law Appellate Tribunal (NCLAT) has issued notice to IndusInd International Holdings Ltd (IIHL), a Hinduja Group company, regarding a plea filed by lenders of Reliance Capital seeking forfeiture of ₹2,750 crore of equity if IIHL fails to implement the resolution plan. The lenders are also seeking interest payment on the debt component of ₹7,300 crore. The matter will be heard on 30th September. The lenders have been at odds with Hinduja Group over the implementation of the plan, which involves IIHL taking over Reliance Capital for ₹9,861 crore.
View Source
NCLT Mumbai approves sale of Reliance Communications' real estate assets, shares
Livemint
·
1y ago
Medial
The National Company Law Tribunal (NCLT) in Mumbai has approved the sale of certain real estate properties and shares owned by Reliance Communications (RCom). The resolution professional of RCom had sought the NCLT's endorsement for the sale of unencumbered assets. The assets include the Chennai Haddow Office, land parcels in Ambattur and Pune, an office space in Bhubaneswar, and investments in shares of Campion Properties and Reliance Realty. The proceeds from the sale will be distributed during the execution of the approved resolution plan or liquidation.
View Source
Reliance Capital administrator seeksimplementation of IIHL's resolution plan
Livemint
·
1y ago
Medial
Reliance Capital's administrator has filed a petition with the National Company Law Tribunal (NCLT), requesting the tribunal to direct IndusInd International Holdings Ltd (IIHL) to implement its resolution plan by 10 August. IIHL's failure to comply with the 23 July order and its delay tactics prompted the administrator to take this action. The debt-ridden Reliance Capital was admitted into insolvency in December 2021, and the successful implementation of the resolution plan is crucial for both the lenders and the banking sector. The NCLT is expected to address the matter on Wednesday.
View Source
Lenders refuse to extend RCap resolution deadline as Hindujas delay repayment
Livemint
·
1y ago
Medial
Lenders have declined the Hinduja Group's request to extend the repayment deadline for Reliance Capital's dues. The lenders suspect a deliberate attempt to delay the resolution plan implementation. The deadline remains set for May 27th. The Hinduja Group cited regulatory and legal clearances as reasons behind the delay in making full payment for the acquisition. However, the lenders are not willing to extend the deadline and have expressed concerns about the group's intentions. The resolution plan implementation is subject to necessary approvals from statutory, regulatory, and judicial bodies.
View Source
NCLAT sets aside plea filed against NCLT order approving sale of Reliance Broadcast Network
Livemint
·
7m ago
Medial
The National Company Law Appellate Tribunal (NCLAT) has dismissed appeals against the National Company Law Tribunal (NCLT) order approving bids of Sapphire Media for Reliance Broadcast Network Ltd. The NCLAT upheld the NCLT's approval of Sapphire Media's resolution plan for Reliance Broadcast, which operates FM radio business under the brand Big 92.7 FM. The unsuccessful resolution applicants had challenged the process adopted by the resolution professional but the NCLAT found no irregularities and dismissed the appeals. The resolution plan of Sapphire Media was approved by the Committee of Creditors and forwarded to the NCLT, which approved it.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in
