https://www.freepressjournal.in/business/reliance-capital-resolution-nclt-to-hear-iihl-plea-for-deadline-extension-on-june-20

The National Company Law Tribunal (NCLT) will hear Hinduja Group firm IIHL's plea for a deadline extension to complete Reliance Capital's resolution on June 20. IIHL, the successful bidder, seeks a 90-day extension beyond the May 27, 2024, deadline set by NCLT when it approved the ₹9,650-crore resolution plan. \r

Reliance Capital, a debt-ridden Anil Ambani Group company with over ₹40,000 crore in debt, faced governance issues and payment defaults, leading to the Reserve Bank superseding its board in November 2021. Bids to take over the company were invited in February 2022, with IIHL and Torrent Investments participating in the final challenge mechanism.