 "Reliance Capital")
The Committee of Creditors (CoC) of Reliance Capital (RCap) has decided to go for a second round of e-auction for the bidders after it received upfront cash offers from both Torrent and the Hinduja group.
While Torrent, the highest bidder in the first round, made an all-cash upfront offer of Rs 8,640 crore, Hinduja had offered Rs 9,000 crore after the auction.
The post auction offer led to Torrent moving the National Company Law Tribunal (NCLT) and getting a stay on Hinduja’s offer. Hinduja had bid Rs 8,110 crore in the auction.
The second challenge mechanism round will be conducted
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