IRDAI conditionally approved Hinduja Group's IndusInd International Holdings Ltd to acquire Reliance Capital.
Insurance Regulatory and Development Authority of India (IRDAI) conditionally approved Hinduja Group's IndusInd International Holdings Ltd (IIHL) to acquire debt-laden Reliance Capital, subject to certain regulatory, statutory, and judicial clearances. IIHL's Rs 9,650 crore resolution plan for Reliance Capital was previously approved by the National Company Law Tribunal. The acquisition aims to close by the NCLT's stipulated date of May 27, 2024.
May 11, 2024
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