No change in NPV for Reliance Capital, 'number sacrosanct': Torrent

Company goes to NCLT after Hinduja group makes post-auction offer for bankrupt financial services firm

The Torrent group has said its offer for Reliance Capital—the highest—was based on the bankrupt financial services firm' net present value (NPV) and meets guidelines lenders had set before the auction.

Torrent, to buttress its point, highlighted the difference in opinion about its offer between the advisor to Reliance Capital’s committee of creditors (CoC) and the advisor to the administrator appointed by the Reserve Bank of India. Torrent, in a filing with the National Company Law Tribunal (NCLT), said since the upfront and deferred amounts were subject to negotiation with lenders, there was no question of a non-compliant bid. “The