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Reliance Capital Limited has applied for the delisting of its equity shares and non-convertible debentures, following the approval of a resolution plan by IndusInd International Holdings Ltd. The National Company Law Tribunal (NCLT) sanctioned the plan as part of the company’s corporate insolvency resolution process. This delisting application aims to facilitate the implementation of the approved plan and signifies a step towards restructuring and stabilizing the company's operations.
This strategic move may positively influence investor sentiment by demonstrating progress in the recovery process, although potential risks regarding the delisting's impact on liquidity remain.