The Committee of Creditors (CoC) of Reliance Capital (RCAP) has approached the National Company Law Appellate Tribunal (NCLAT) seeking the forfeiture of ₹2,750 crore from IndusInd International Holdings Ltd (IIHL) in the event of a default on its part.
The CoC has also requested that the tribunal direct IIHL to pay interest at a rate of 16.6% per annum on the entire upfront payment of ₹9,660 crore from May 27, 2024, to August 8, 2024. CNBC-TV18 has reviewed a copy of the petition filed by Reliance Capital’s CoC.
In its appeal, the CoC argued that the entire amount was originally supposed to be received by the creditors by May 27, 2024. The CoC highlighted that the current interest rate on certain bonds of Reliance Capital, which…
