RCap lenders withdraw petition against IndusInd International at NCLAT

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The story "RCap lenders withdraw petition against IndusInd International at NCLAT" was covered 2 days ago by Business Standard, a news publisher based in India.

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RCap lenders withdraw petition against IndusInd International at NCLAT - Business Standard

Quick Summary:

The CoC sought permission of the National Company Law Appellate Tribunal to withdraw its appeal filed against the NCLT order, in consideration of the completion of the implementation of the resolution plan by IIHL.

The Committee of Creditors (CoC) of Reliance Capital has informed NCLAT that the resolution plan was completely implemented by IIHL with the transfer of complete payment amounts in terms of the resolution plan.

Lenders of debt-ridden Reliance Capital have withdrawn petition filed against IndusInd International Holdings Ltd (IIHL) before appellate tribunal NCLAT.