Acquisition of Stake in Reliance Capital by IndusIND International

  • Competition Commission of India (CCI) has approved the acquisition of the control/stake.
  • In Reliance Capital Limited by IndusInd International Holdings Limited, IIHL BFSI (India) Limited, and Aasia Enterprises LLP.

IIHL:

  • Global Business License licensee company incorporated in the Republic of Mauritius and regulated by Mauritius’s Financial Services Commission.
  • Principal activity: investment holding – holds shares in different companies spread across sectors
  • Does not manufacture, supply, distribute, or sell any products or provide any services.

RCL:

  • Registered as a Non-Banking Financial Company Core Investment Company under Section 45-IA of the Reserve Bank of India Act, 1934.
  • A holding company with investments in its subsidiaries, associates, and other group companies.
  • Engaged in various businesses in the financial service sector.
  • Undergoing insolvency resolution proceedings initiated under the Insolvency and Bankruptcy Code
Posted in Current Affairs.