Reliance Industries announced that the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by Capri Global Holdings for SevenHills Healthcare. The move marks a significant step in resolving the healthcare firm’s debt issues, paving the way for operational revival and strengthening Reliance’s healthcare-linked investments
Reliance Industries confirmed that Capri Global Holdings’ resolution plan for SevenHills Healthcare has received approval from the National Company Law Tribunal (NCLT). This development is expected to provide financial stability and operational clarity for the healthcare provider, which has faced prolonged debt challenges.
Key Highlights:
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Resolution Plan: Submitted by Capri Global Holdings, approved by NCLT.
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SevenHills Healthcare: The plan aims to restructure debt and revive operations of the healthcare firm.
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Reliance’s Role: Reliance Industries remains a key stakeholder in the resolution process.
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Strategic Importance: Strengthens Reliance’s healthcare-linked investments and supports sectoral growth.
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Industry Impact: Marks progress in India’s insolvency resolution framework, offering a pathway for stressed healthcare assets.
The approval of Capri Global’s resolution plan is a crucial milestone in stabilizing SevenHills Healthcare, ensuring continuity of services, and reinforcing investor confidence in India’s healthcare infrastructure. Reliance Industries’ involvement underscores its commitment to supporting strategic resolutions in critical sectors.
Sources: Reuters, Economic Times, Business Standard, Mint