NCLT grants 8-day extension for Reliance Capital's ownership transfer

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NCLT grants 8-day extension for Reliance Capital's ownership transfer - Business Standard

Quick Summary:

The National Company Law Tribunal (NCLT) on Wednesday gave additional eight days to all parties to complete procedural issues for the ownership transfer of debt-ridden Reliance Capital (RCAP) to IndusInd International Holdings Ltd (IIHL).

The NCLT advised all parties to ensure completion of the implementation process by March 20, while granting the extension and posted the matter for further hearing on March 25, 2025.

The Mumbai-bench of NCLT heard the matter and a joint status update was given by the committee of creditors, administrator, and IIHL on the progress of the implementation of the resolution plan.