IIHL to acquire Reliance Capital by Feb 26, meeting scheduled for Tuesday

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IIHL to acquire Reliance Capital by Feb 26, meeting scheduled for Tuesday - Business Standard

Quick Summary:

Consequently, the next hearing in the matter is scheduled on February 26 for final closure of implementation of approved resolution plan and handing over the control of Reliance Capital and its subsidiaries to IIHL.

During the hearing, sources said, IIHL confirmed submission of all definitive documents and achieving financial closure towards implementation of the resolution plan of Reliance Capital.

IndusInd International Holdings Limited (IIHL) is set to acquire the debt-ridden Reliance Capital by February 26 as the National Company Law Tribunal (NCLT) on Monday accepted the acquiring company's request.