NCLT directs RBI, DIPP, IIHL, and the CoC to expedite approvals for RCap's resolution plan.

The National Company Law Tribunal (NCLT) instructs the Reserve Bank of India (RBI) and the Department of Industrial Policy and Promotion (DIPP) to expedite approvals for the implementation of the Resolution Plan for Reliance Capital Ltd (RCap) by Hinduja-owned IndusInd International Holdings Ltd (IIHL) in order to resolve RCap's financial issues. NCLT also directs IIHL and the Committee of Creditors (CoC) to hold a joint meeting to determine necessary steps for implementing the resolution plan.

August 11, 2024
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