Hinduja Group to close RCap deal by end January: A.P. Hinduja
Live MintMumbai: The Hinduja Group expects to complete the ₹9,861 crore acquisition of Reliance Capital by the end of January, nearly a year after the National Company Law Tribunal approved its rescue plan for the bankrupt lender. IndusInd International Holdings Ltd, the Hinduja Group company that submitted the resolution plan, said it has received all regulatory approvals, including from the Department for Promotion of Industry and Internal Trade, to complete the acquisition. Sharing his thoughts on the future strategy, Hinduja explained that the group is looking to divest 34 out of the 39 subsidiaries of Reliance Capital, as they are mostly small shell entities with small businesses. He said that Hinduja will go with the existing management of Reliance Capital to run businesses, even as it inducts new board members at the holding company.
History of this topic
NCLT directs RBI, DIPP to expedite approvals for Hinduja’s takeover of Reliance Capital
Live Mint
Hinduja overhauls corp structure for Reliance Capital deal
New Indian Express
NCLT allows RCap administrator’s plea on implementation of resolution plan
Live Mint
Reliance Capital auction: Hinduja Group firm emerges highest bidder with Rs 9,650 cr offer
India TV News
Reliance Capital resolution process completion deadline extended to July 16
India TV News
The battle between Reliance and Amazon for the Future of Indian retail | The Hindu podcast
The HinduDiscover Related
