RCap deal: NCLT to hear Hindujas plea next week

The National Company Law Tribunal, Mumbai, has posted the hearing on Hindujas plea for the extension on the deadline for Reliance Capital acquisition to early next week.

When the application filed by IndusInd International Holdings for extension of deadline came up for hearing on Wednesday, the company’s counsel briefed the Tribunal on funds raised and pending formalities.

The Tribunal listed hearing in the case for early next week.

The IIHL on Tuesday filed an application with NCLT seeking time till August 10 to complete the acquisition of Reliance Capital. The company confirmed to the Committee of Creditors that it has signed the binding term sheets with the lenders for raising ₹2,750 crore and urged them to complete pending work to close the transaction.