Team Blitz India
NEW DELHI: The administrator of debt-ridden Reliance Capital (RCAP) has approached the Reserve Bank to seek a 10-day extension of the deadline to transfer businesses Hinduja Group company, sources said. The deadline for the transfer of Reliance Capital’s asset to Aasia Enterprises, a HindujaGroup company, ended on May 17, they added.
The RBI approval granted on November 17, 2023, was valid for only 6 months.The RCAP Administrator has sought an extension of 10 days till May 27 from the RBI, sources said.
It may be mentioned that May 27 also happens to be the deadline for the implementation of the resolution planby the Hinduja Group company as per the NCLT order.
