The National Company Law Tribunal (NCLT) granted approval on Tuesday to the resolution proposal presented by IndusInd International Holdings, a subsidiary of the Hinduja Group, for Reliance Capital, marking a significant milestone in the ongoing endeavors to tackle the financial hurdles confronting Reliance Capital.
This decision represents a noteworthy advancement in the continuous efforts to overcome the financial obstacles confronting Reliance Capital.
The endorsed resolution blueprint, valued at Rs 9,650 crore, was initially tabled by IndusInd International Holdings during the second round of bidding for Reliance Capital in June 2023.
A comprehensive order detailing the decision is expected to be released later today.
It is worth noting that the NCLT's endorsement holds pivotal importance in furnishing a viable pathway for the restructuring of Reliance Capital's business operations.
