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RCap lenders vote in favour of Hinduja's ₹9,661 crore cash offer
The Morning Standard
|June 30, 2023
LENDERS of debt-ridden Reliance Capital have voted overwhelmingly in favour of a resolution plan submitted by Hinduja Group firm IndusInd International Holdings Ltd (IIHL), which made the highest cash offer of ₹9,661 crore and was the lone bidder in the second round of auction.
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As much as 99% votes were in favour of IIHL as lenders expected to recover cash upfront of ₹9,661 crore from the Hinduja Group entity, according to the sources. Voting on the IIHL resolution plan started on June 9 and ended on Thursday.
Besides, cash balance with Reliance Capital of over Rs 500 crore would also go to lenders.
Lenders are expected to receive about ₹10,200 crore for distribution as against ₹16,000 crore principal secured debt, resulting in 65 percent recovery for the lenders, sources said.
Bu hikaye The Morning Standard dergisinin June 30, 2023 baskısından alınmıştır.
Binlerce özenle seçilmiş premium hikayeye ve 9.000'den fazla dergi ve gazeteye erişmek için Magzter GOLD'a abone olun.
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