The National Company Law Appellate Tribunal (NCLAT) on March 2, 2023 allowed a petition filed by lenders of Reliance Capital, seeking another round of auction for the debt-ridden firm undergoing insolvency proceedings. A two-member Bench set aside an order passed by NCLT and said the Committee of Creditors (CoC) has the power to negotiate and […]
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The Committee of Creditors (CoC) fixed a floor value of ₹6,500 crore for the auction. Torrent Group on Wednesday emerged as the highest bidder for debt-ridden Reliance Capital in the auction conducted as part of its resolution process. Ahmedabad-based Torrent Group submitted a bid of ₹8,640 crore for acquiring the NBFC firm set up […]
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Life Insurance Corporation of India (LIC) logo | Photo Credit: Reuters Days ahead of the deadline to submit binding bids, LIC’s move to sell its ₹3,400 crore secured principal debt of cash-strapped Reliance Capital Ltd (RCL) to an asset reconstruction company (ARC) has irked its lenders and bidders. The last date for submitting binding bids […]
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