February 26, 2025 proved to be an important day for Anil Ambani’s company Reliance Capital. The debt -ridden company is being acquired by IndusInd International Holdings Limited (IIHL). The National Company Law Tribunal (NCLT) recently approved the IIHL’s acquisition petition, which set the final completion of the process.
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Acquisition process and details
Following the approval of NCLT, IIHL has submitted all the legal documents. On February 26, the full control of Reliance Capital and its subsidiaries will be handed over to IIHL. Hinduja Group company IIHL committed to pay Rs 9,861 crore to lenders. Till now 58% solution The amount has been deposited in various escrow accounts.
How was Reliance Capital in debt?
The Reserve Bank of India (RBI) suspended the board of Reliance Capital in November 2021. Nageshwar Rao Y was appointed as Administrator and in February 2022, bids were invited for the acquisition. In April 2023, IIHL bid for Rs 9,650 crore. Winned and started the process of acquisition.
What will happen next?
After today, IIHL will have full control over Reliance Capital. The remaining amount of Rs 4,300 crore will be paid to the workers. After the financial restructure of the company, its future strategies will be decided.
