IRDAI raises concerns over Hinduja Group's IndusInd International Holdings resolution plan for debt-laden Reliance Capital.
IRDAI raises concerns over Hinduja Group's IndusInd International Holdings (IIHL) resolution plan for debt-laden Reliance Capital, questioning equity capital, debt-raising plans, acquisition structure for Reliance Capital's insurance subsidiaries, and possible exceeding Foreign Direct Investment following the transfer of Reliance Capital's stake to IIHL. The regulator emphasizes protecting policyholders' funds.
April 07, 2024
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