Mumbai
Anil Ambani’s debt -ridden company Reliance Capital will be sold by the end of this month. Indeed, the National Company Law Tribunal (AnLELT) accepted the request of IndusInd International Holdings Limited (IIHL) to acquire Reliance Capital. In such a situation, the way for IIHL to acquire Reliance Capital by 26 February has been cleared. News agency PTI sources said that during the hearing of the case before NCLT, IIHL confirmed the financial completion of fixed documents and financial completion towards the implementation of Reliance Capital’s Solution Scheme.
Now hearing on 26 February
The NCLT accepted the IIHL’s plea to conclude by 26 February 2025 during its first day. Now the next hearing of the case has been scheduled on 26 February. On that day, the final closing of the approved solution scheme and handing over the control of Reliance Capital and its subsidies to IIHL will be discussed.
Monitoring Committee meeting today
Sources said that the Administrators of Reliance Capital are going to call a meeting of the Monitoring Committee on Tuesday, so that documents can be executed for funding and the fund withdrawal of funds can be started till the target closing date. According to sources, the lenders of the Hinduja Group company IIHL have assured that they have to withdraw the remaining amount of Rs 4,300 crore required to complete a total payment of Rs 9,861 crore to the creditors of Reliance Capital Limited (RCL). Are ready.
More than 58 percent deposit deposits
IIHL has already deposited more than 58 percent of the solution scheme price in various escrow accounts. IIHL emerged as a successful solution to acquire the threatened financial services firm in April 2023. It won a bid of Rs 9,650 crore in April 2023.