The Reserve Bank of India approved the resolution plan for debt-ridden Reliance Capital on Friday. The move finally clears the path for the Hinduja Group entity, IndusInd International Holdings Ltd. (IIHL), to acquire the company. This is to inform you that the Administrator of Reliance Capital Limited is in receipt of a ""no objection"" via letter dated November 17, 2023, from the Reserve Bank of India, the company said in a regulatory filing. After a protracted battle, IIHL emerged as the highest bidder with an offer of Rs 9,650 crore to take over Reliance Capital in the second round of the auction concluded this April. The RBI, on November 29, 2021, superseded the board of Reliance Capital in view of payment defaults and serious governance issues. The RBI appointed Nageswara Rao Y as the administrator in relation to the corporate insolvency resolution process (CIRP) of the company.