The lenders of Reliance Capital have withdrawn their petition against IndusInd International Holdings Ltd (IIHL) at the National Company Law Appellate Tribunal (NCLAT). The Committee of Creditors (CoC) informed the tribunal that IIHL had fully implemented the resolution plan by transferring the complete payment amount.
After the resolution plan was completed the CoC asked the NCLT to allow the withdrawal of its appeal from the previous order. The NCLAT accepted the withdrawal request because the administrator and IIHL did not oppose it. The two-member bench led by Justice Yogesh Khanna and Ajai Das Mehrotra formally ended the case on March 24, 2025.
The successful resolution applicant IIHL acquired Reliance Capital through a bid worth ₹9,650 crore in April 2023. The initial plan required completion before May 27, 2024 but the deadline shifted to August 10, 2024. During this period IIHL worked with the administrator and CoC to complete the resolution plan implementation.
Reliance Capital transferred its control to IIHL on March 19, 2025 which ended the three-year resolution process. The organization now manages essential subsidiaries including Reliance Nippon Life Insurance and Reliance General Insurance.
