Reliance Capital's CoC applied to NCLAT, seeking IIHL to pay a ₹400 cr interest charge for delaying CIRP execution and not grant further extensions.
Reliance Capital's Committee of Creditors (CoC) filed an application with NCLAT, seeking a directive for IndusInd International Holdings (IIHL) to pay a ₹400 crore interest charge for delaying the execution of Reliance Capital's CIRP. The CoC also wants IIHL not to be granted any further extensions and to forfeit its ₹2,750 crore deposit if there is further delay. IIHL delayed the implementation of the resolution plan, which caused the lenders to miss out on income they could have earned if the funds had been deployed.
August 23, 2024
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