Hindujas, Rcap creditors spar over payments
Creditors of Reliance Capital, represented by Vistra ITCL and IndusInd International Holdings Ltd (IIHL), are at odds over payment issues as the deadline for IIHL to deposit Rs 2750 crore expired. Vistra warned IIHL of legal consequences. IIHL claimed in a press statement that the sum had been deposited and informed the CoC and NCLT. The controversy revolves around adherence to a July 23 NCLT order. Reliance Capital owes creditors Rs 23,666 crore, mostly to bondholders represented by Vistra. IIHL's resolution plan required creditor and administrator actions post-July 29.