Next hearing will be held on coming Monday when Hinduja Group will have to present the proof of fund transfer
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CARE gives the lowest possible rating of BBB minus to the Zero Coupon NCD Issue of Hinduja Group Entity. The group is raising more than Rs 7000 crores in debt financing deal to fund the acquisition of Reliance Capital
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Hinduja Group has so far failed to bring even Rs 250 crore (equity money contribution) on the table which could give confidence to RCAP lenders about the ability of the group. RCAP lenders have opposed any further extension to Hinduja Group and are seeking interest on the dealy so far
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