Anil Dhirubhai Ambani Ventures (ADAVPL), a company owned by Anil Ambani, has approached the National Company Law Tribunal (NCLT) in Mumbai, requesting the court to direct Hinduja-owned IndusInd International Holdings (IIHL) to cease using the 'Reliance' brand name as soon as the resolution plan for bankrupt Reliance Capital (RCap), a financial services firm, is implemented.
The NCLT will hear the matter on Tuesday.
When approving IIHL's resolution plan in February this year, the NCLT permitted the Hinduja company to use the 'Reliance' brand for three years from the date of approval for the purpose of implementing the resolution plan.
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FY25 as weak-earnings year is gradually getting priced in
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