IIHL raises concern over Rs 850 cr GST liability for implementation of RCap resolution plan

IndusInd International Holdings, owned by Hinduja Group, informed the National Company Law Tribunal of a Rs 850 crore GST liability issue hindering Reliance Capital's resolution plan. Despite receiving key approvals and being prepared to pay Rs 9,861 crore, the GST liability remains a problem. The tribunal set further hearings for September 19. The resolution plan was initially approved in February 2024.