Reliance Brand Dispute: NCLAT Dismisses ADAVL Appeal After Reliance Capital Becomes IndusInd

The National Company Law Appellate Tribunal (NCLAT) has recently dismissed as infructuous an appeal concerning the use of the “Reliance” brand name by IndusInd International Holdings Ltd (IIHL) following its takeover of Reliance Capital.

The appeal was filed by Anil Dhirubhai Ambani Ventures Pvt. Ltd. (ADAVL), which had challenged the Mumbai bench of the National Company Law Tribunal's (NCLT) decision allowing IIHL to use the “Reliance” name as part of its takeover of Reliance Capital. The appeal became infructuous after Reliance Capital changed its name to "IndusInd."

The order was passed by Judicial Member Justice Mohammad Faiz Alam Khan and Technical Member Indevar Pandey.

Appearing for IIHL, Senior Advocate Arun Kathpalia submitted that the appeal had become infructuous as ADAVL's grievance had been redressed. He said the change in Reliance Capital's name to “IndusInd” had been effected.

He further submitted that an affidavit recording the change had been filed on September 11, 2026. The affidavit was filed in compliance with the NCLAT's September 7 order.

Counsel for ADAVL fairly submitted that nothing survives in the appeal. He agreed that the matter could be dismissed.

The NCLAT accordingly held that “nothing survives to be considered in the appeal”. It dismissed the appeal as infructuous.

Background

The dispute concerned ADAVL's objection to IIHL's use of the “Reliance” brand following its acquisition of Reliance Capital through the insolvency process.

In February 2024, the Mumbai bench of the NCLT approved IIHL's ₹9,681 crore resolution plan for Reliance Capital. As part of the approved plan, IIHL was permitted to use the “Reliance” name for a limited period to facilitate the transition following the takeover.

ADAVL subsequently filed a recall application before the NCLT. It sought removal of the portion of the order permitting continued use of the brand.

ADAVL contended that the “Reliance” brand was not an asset of Reliance Capital under the Insolvency and Bankruptcy Code (IBC). It also argued that the agreement permitting Reliance Capital to use the brand had been terminated before the commencement of the Corporate Insolvency Resolution Process (CIRP).

The NCLT dismissed ADAVL's recall application in October 2024. ADAVL then approached the NCLAT challenging the decision.

During the pendency of the appeal, Reliance Capital changed its name to “IndusInd”. IIHL informed the NCLAT that the change had been effected.

It also filed an affidavit on September 11, 2026, recording the change. The affidavit was filed in compliance with the NCLAT's September 7 order.

With ADAVL conceding that nothing survived in the appeal, the NCLAT dismissed the proceedings as infructuous.