Pranav B Prem

The National Company Law Appellate Tribunal (NCLAT) has been informed by IndusInd International Holdings Ltd. (IIHL), the successful resolution applicant for Reliance Capital Ltd., that it has obtained approval from the Reserve Bank of India (RBI) to change the company’s name and expects to complete the rebranding process within eight weeks. The submission was made before a Bench comprising Justice Mohammad Faiz Alam Khan (Judicial Member) and Naresh Salecha (Technical Member) in the ongoing appeal concerning the use of the ‘Reliance’ brand name, which has been challenged by Anil Dhirubhai Ambani Ventures Pvt. Ltd. (ADAVL) — the entity claiming ownership of the ‘Reliance’ trademark.

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Trademark Dispute Background

ADAVL has contended that the 2014 brand licensing agreement which had permitted Reliance Capital to use the ‘Reliance’ name was terminated in June 2021, well before the initiation of the Corporate Insolvency Resolution Process (CIRP). According to ADAVL, IIHL therefore has no legal right to use the brand and the ‘Reliance’ mark was never part of the CIRP assets. Counsel for ADAVL argued that the Hinduja Group-controlled IIHL was explicitly informed that the trademark could not be used and reiterated before the appellate bench that, “I am the owner of the Reliance trademark. The agreement was terminated before CIRP began. I was not part of the process — I was out.”

IIHL’s Submissions

Appearing for IIHL, counsel submitted that the company had already received RBI approval for the name change and had initiated the transition to an ‘IndusInd’-based identity. He informed the Tribunal that the company was now in the process of seeking clearance from the Ministry of Corporate Affairs (MCA), which, under law, must be completed within six months. The counsel further requested the Tribunal to grant at least eight weeks to complete the rebranding process, assuring that the transition was already underway.

Tribunal’s Observation and Direction

After hearing the submissions, the appellate bench granted time to IIHL until November 21, 2025, to provide a clear statement on whether and when it would cease using the ‘Reliance’ brand. The Tribunal noted that the resolution applicant had already obtained the necessary regulatory nod and must now ensure timely compliance with both RBI and MCA requirements.

Earlier NCLT Proceedings

In February 2024, the Mumbai Bench of the National Company Law Tribunal (NCLT) had approved IIHL’s ₹9,661-crore resolution plan for Reliance Capital Ltd. As part of the approved plan, IIHL was permitted to continue using the ‘Reliance’ name for up to three years to ensure a smooth transition during the takeover process. Following this, ADAVL filed a recall application, seeking deletion of the clause allowing continued use of the brand name. It argued that the ‘Reliance’ trademark was not an asset covered under the Insolvency and Bankruptcy Code (IBC) and that it had never consented to its use by the successful resolution applicant.

However, in October 2024, the NCLT dismissed ADAVL’s recall application, affirming its earlier order approving the plan. Aggrieved, ADAVL approached the NCLAT, leading to the present proceedings.

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The appellate tribunal has adjourned the matter to November 21, 2025, by which time IIHL must report back on its compliance status and the expected date of dropping the ‘Reliance’ brand name. The issue thus remains pending final adjudication as the Hinduja Group continues its efforts to complete the rebranding process in accordance with regulatory approvals.

Appearance

For Appellant(s): Mr. Hasan Murtaza, Mr. Sameer Sharma, Advocates

For Respondent(s): Mr. Navneet R., Ms. Alankrita Sinha, Advocates for R1. Mr.Shikhil Suri, Sr. Advocate with Mr. Pranav Saigal, Ms. Ishita Ahuja, Advocates for R-2.

Cause Title: Anil Dhirubhai Ambani Ventures Pvt. Ltd V. Reliance Capital Ltd. & Anr.

Case No: Comp. App. (AT) (Ins) No. 2263 of 2024

Coram: Justice Mohammad Faiz Alam Khan (Judicial Member), Naresh Salecha (Technical Member)