NCLAT issues notice to IIHL on RCap plea seeking interest on payment

Q: How long will it take to read this news story?

The story "NCLAT issues notice to IIHL on RCap plea seeking interest on payment" has 658 words across 22 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "NCLAT issues notice to IIHL on RCap plea seeking interest on payment" was covered 4 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 322 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #22487822</li><li>URL: https://beamstart.com/news/nclat-issues-notice-to-iihl-17262182468471</li></ul>

Business Standard Logo Business Standard 4h ago

NCLAT issues notice to IIHL on RCap plea seeking interest on payment - Business Standard

Quick Summary:

The lenders have sought modification in the order passed by the Mumbai Bench of National Company Law Tribunal (NCLT), which had on July 23, directed IIHL to deposit the equity component of Rs 2,750 crore in the CoC escrow accounts.

The NCLAT on Friday issued a notice to IndusInd International Holdings Ltd (IIHL) over a plea filed by lenders of Reliance Capital seeking interest on the payment for the extended period.

A three-member bench led by Chairperson Justice Ashok Bhushan directed the Hinduja Group firm, IIHL to file reply within two weeks.