In a significant development in the Indian financial sector, the Hinduja Group has embarked on an ambitious Rs 4,300 crore initiative to acquire the bankrupt Anil Ambani-led Reliance Capital, indicating a robust move in the corporate recovery landscape. This follows the approval of IndusInd International Holdings’ (IIHL) resolution plan by the National Company Law Tribunal […]
Reliance Capital Limited said that it welcomes the move of the Reserve Bank of India to resolve its debt in compliance with the IBC Code. The Indian financial services holding company, which is promoted by Reliance Anil Dhirubhai Ambani Group, said that it will fully co-operate with the RBI-appointed Administrator for an accelerated resolution of […]
Reliance Infrastructure Limited (Reliance Infra) said that the Supreme Court of India has upheld the arbitral award in favor of its subsidiary — Delhi Airport Metro Express Private Ltd (DAMEPL) against the Delhi Metro Rail Corporation. As per the court judgment, the Delhi Metro Rail Corporation has to pay INR 2,950 crores in damages plus […]
Anil Ambani’s Reliance Infrastructure (formerly Reliance Energy Limited) has raised INR 550.56 crore ($74 million) by means of issuing securities on a preferential basis. In this connection, Reliance Infrastructure issued 8.88 crore warrants convertible into an equivalent number of equity shares of the company. These were issued at a price of INR 62 per warrant […]