DPIIT gives nod to Hinduja Group firm IIHL for acquisition of Reliance Capital

The Department for Promotion of Industry and Internal Trade (DPIIT) has approved the acquisition of Reliance Capital by Hinduja Group firm IIHL. The acquisition is part of the resolution process under the Insolvency and Bankruptcy Code (IBC). The approval marks a significant step in the resolution of Reliance Capital’s debt issues and is expected to provide relief to creditors. The Hinduja Group’s acquisition plan includes measures to revive the company’s operations and improve its financial health. The DPIIT’s approval underscores the government’s commitment to facilitating the resolution of distressed assets and promoting economic stability.