Lenders to Reliance Cap raise concerns over ₹7,300 crore debt term sheet offered by IIHL

Lenders to debtridden Reliance Capital (RCAP) have raised concerns regarding the term sheet provided by the Hinduja Group firm IIHL for Rs 7,300 crore debt mobilisation to fund acquisition.

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The committee of creditors (CoC) has expressed concerns that bankers to IndusInd International Holdings Ltd (IIHL) have imposed numerous conditions for offering Rs 7,300 crore debt and some of these conditions can only be met by IIHL after the resolution plan has been executed, sources said.

This makes the drawdown of funds needed to settle payments to the debtors of RCAP for the resolution plan virtually impossible, sources said.