New Delhi, March 18 -- IndusInd International Holdings Chairman Ashok Hinduja on Tuesday announced the acquisition of Reliance Capital, completing the three-year-long resolution process of the debt-ridden company.

IndusInd International Holdings Ltd (IIHL) has transferred the bid amount to the escrow account of the lender, and the takeover of the management from the Administrator will happen on Wednesday.

Mauritius-based IIHL emerged as the successful suitor with a bid of Rs.9,650 crore for the resolution of Reliance Capital (RCAP). Later, the company paid Rs.200 crore to bolster RCAP's solvency, which was over and above the bid amount.

"The transaction from our side is over. We have worked on this deal for three years. As we are speak...