They will acquire the company as part of the approved resolution plan. Stock exchanges will now initiate necessary procedures to formally delist and remove Reliance Capital shares from trading counters as per applicable regulations and the resolution plan sanctioned by the NCLT. This move is aimed at fully implementing the approved plan that has been formulated after detailed insolvency proceedings against Reliance Capital over the past year. As per its latest financial reports, Reliance Capital had total assets worth over Rs 12,000 crore as of March 2023. Under the resolution plan, the debt-ridden company will continue operations on a going concern basis post-acquisition. The insolvency proceedings against Reliance Capital were initiated last year after the Reserve Bank of India superseded its board in November 2021 due to various governance and repayment issues. Subsequently, the central bank had approached the NCLT for insolvency resolution.