Reliance Capital News

Reliance Capital resolution process deadline likely to be extended again

Deadline for resolution process ends on April 16; matter goes under litigation as one bidder moves court

RCap auction postponed to April 11 even as Torrent pursues litigation

Lenders fix Rs 9,000 cr as floor price; Torrent may participate, but it will be subject to SC decision on its petition, which will be heard in August

CoC of Reliance Capital decides to hold a second auction on April 4

The decision to hold a second auction was decided on Monday in a formal meeting of the CoC

RCap lenders in a fix as Hindujas retract revised Rs 8,950-crore offer

The revised Hinduja stand has put Indian lenders, with an exposure of Rs 24,000 crore, in a spot as it was the Hindujas offer which led to a call for second auction and litigation by the other bidder

SC refuses to stay NCLAT's order on second round of RCap auction

COC to meet today, second auction likely to be held on March 29, say lawyers privy to the matter

RCap insolvency: SC agrees to hear Torrent plea against NCLAT order

Hearing on March 20; second round of auction of RCap auctions allowed by NCLAT stand deferred, say lawyers

SC to hear Torrent plea against NCLAT allowing 2nd RCap auction on March 20

The second-round auction, scheduled for March 20, will not take place now, further delaying the resolution process of RCAP

Torrent moves SC against NCLAT order on auction of Reliance Capital assets

The lenders' of RCap have decided to hold the second round of e-auction, following the NCLAT order, on March 20

Reliance Capital lenders seek Rs 8k-crore upfront cash for second auction

Minimum bid amount fixed at Rs 9,500 crore

RCap resolution: NCLAT allows lenders' plea for another round of bidding

The National Company Law Appellate Tribunal (NCLAT) on Thursday allowed a petition filed by lenders of Reliance Capital seeking another round of auction for the debt-ridden firm undergoing insolvency process. A two-member bench set aside an order passed by NCLT and said the Committee of Creditors (CoC) has the power to negotiate and call for a higher bid. The appellate tribunal permitted the CoC to continue with the challenge mechanism and invite bids after two weeks. The NCLAT order came on a petition filed by Vistra ITCL (India), one of the lenders of Anil Ambani-promoted Reliance Capital, challenging an order of NCLT which restricted further auction of the bankrupt firm. In the Reliance Capital (RCap) matter, Torrent Investments had emerged as the highest bidder with a resolution plan of Rs 8,640 crore. However, the CoC of RCap decided to conduct a second challenge mechanism and then Hinduja Group firm Indusind International Holdings Ltd (IIHL) put a revised bid. This was ...

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Reliance Capital suitors likely to redraw offers after Budget tweak

The dispute is now pending at the National Company Law Appellate Tribunal (NCLAT)

NCLT rejects second auction of Reliance Capital; creditors likely to appeal

Torrent was the highest bidder in the first auction, offering Rs 8,640 crore

NCLT's final order on bankrupt Reliance Capital bid by next week

The matter is reserved for judgment and the NCLT Bench mentioned that the order will be issued next week

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

CoC approves 90-day extension for Reliance Capital resolution process

Reliance Capital was sent for debt resolution in November 2021 after it defaulted to loans worth Rs 24,000 crore

Torrent group bid not compliant, Reliance Capital lenders tell NCLT

The lenders, who are planning a second round of auction for Reliance Capital on January 19th, are seeking a higher valuation for the bankrupt company

Lenders begin voting to hold second auction for Reliance Capital assets

The voting was held after the National Company Law Tribunal did not stay the second auction after a petition made by Torrent

Lenders may hold another round of auction for cash-strapped RCap

Lenders meet on Monday to vote on the proposal

TMS Ep340: RCap, ride-hailing, India Inc's fundraising, Belagavi dispute

Why are Hinduja and Torrent sparring over RCap? Is ride-hailing market ripe for disruption? What are India Inc's fundraising plans for 2023? What's the fight over Belagavi? All answers here