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flag Reliance Capital acquisition process stalled due to IIHL's pending regulatory approval from DIPP.

flag Lenders to Reliance Capital accuse Hinduja Group's IndusInd International Holdings Ltd (IIHL) of delaying the acquisition process for the troubled company. flag IIHL's request for approval from India's Department of Industrial Policy and Promotion (DIPP) is pending, as some shareholders are from Hong Kong, requiring compliance with Press Note 3. flag This delay has stalled the resolution plan, with the next NCLT hearing set for September 19, 2024.

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