The Hinduja Group-owned IndusInd International Holdings (IIHL) has confirmed before the Mumbai bench of the National Company Law Tribunal (NCLT) that Reliance Capital will be rebranded under the ‘IndusInd’ name following the takeover of the insolvent company.
As per reports, Venkatesh Dhond, senior counsel representing the Hindujas, stated, “The Hindujas have no desire whatsoever to carry on business under the brand ‘Reliance’. We are anxious that the transition should be done as quickly as possible... because we want to leave this baggage of using the ‘Reliance’ brand behind.”
Dhond clarified that while the rebranding process would take time, any concerns from Anil Dhirubhai Ambani Ventures (ADAVL) regarding the continued use of the Reliance brand are misplaced. “In case ADAVL’s concern is that we (Hindujas) will run the company under the Reliance brand, it is factually misconceived,” he added.
A bench comprising Justice Virendrasingh G. Bisht and Prabhat Kumar heard the plea from the Anil Dhirubhai Ambani group seeking to prevent IIHL from using the Reliance brand name. The tribunal has given both parties two days to file written submissions and has scheduled the next hearing for September 3.
The dispute centres on a brand licensing agreement from April 2014 between ADAVL and Reliance Capital, which expired in April 2024. ADAVL is seeking a modification of the NCLT's February 27 order, which allowed IIHL to take over Reliance Capital for ₹9,861 crore. The order also permitted IIHL to use the ‘Reliance’ brand for three years during the transition period.
This rebranding move by the Hindujas signifies a clear departure from the Reliance name, aiming to establish a distinct identity for the acquired company under the IndusInd brand.
