Results for: Escrow account

The National Company Law Tribunal (NCLT) has directed IndusInd International Holdings (IIHL) to deposit Rs 2,750 crore in an escrow account within 48 hours as part of Reliance Capital’s resolution plan. The tribunal also clarified that the interest on the money in the escrow account will belong to the Committee of Creditors. IIHL was also asked to disclose the term sheet for Rs 7,300 crore fundraising through debt to the Monitoring Committee.

Jet.AI Inc., a leading private aviation and artificial intelligence firm, has announced the official launch of its nationwide jet card program. This program offers access to all classes of private jets for use within the continental U.S., with fixed rates, guaranteed availability, and a 48-hour callout. Key highlights of the program include an optional escrow account and only 44 peak days.