Ashok Hinduja, Chairman of IndusInd International Holdings Ltd (IIHL), announced the successful completion of the acquisition of Reliance Capital (RCAP) through the Corporate Insolvency Resolution Process (CIRP) with a bid of Rs 9,650 crore, transferring funds to lenders and planning for management transfer. Hinduja revealed plans to focus on creating value, estimating Reliance Capital’s business value at Rs 20,000 crore, conducting a comprehensive review, and potentially exiting non-insurance entities. The potential public listing of Reliance General Insurance and Reliance Nippon Life, rebranding to remove ‘Reliance’ branding, and repayment of acquisition debt through an IPO were also discussed during the media conference.
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Current provisions weak and old, Centre should amend Motor Vehicle Act to punish those causing intentional accidents: AICC Secretary on Vadodara car crash | Ahmedabad News
AICC Secretary Ramkishan Ojha urged the NDA-led Central government to consider the recent car crash in Vadodara as a pilot project to amend the Motor Vehicle Act, seeking stricter punishment for intentional accidents caused by drivers under the influence of alcohol and drugs. Ojha questioned the existing provisions of the MV Act in dealing with accused like Rakshit Chaurasiya, who allegedly committed murder under intoxication, emphasizing the need for modern laws to address such cases...
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