NCLAT Allowed Second Round Bidding For Reliance Capital Company Of Anil Ambani

Reliance Capital Second Round Bidding: The National Company Law Appellate Tribunal (NCLAT) on Thursday allowed another bid for Anil Ambani’s bankrupt company Reliance Capital. Lender firms can now receive another bid for the sale of the company. The lenders had filed a petition with the ACLAT. In this, a demand was made for the auction of the company one more time.

The two-judge bench set aside an order passed by the NCLT and said that the Committee of Creditors (CoC) has the right to negotiate and call for higher bids. NCLAT has given two weeks time to invite re-auction.

NCLAT changed the decision of NCLT

This order of NCLAT has come on a petition filed by Vistara ITCL India, one of the lenders of Anil Ambani’s Reliance Capital. The order was challenged in the NCLT in this petition. Explain that the NCLT had refused the demand made for the second bid and asked not to bid again.

This company had placed the biggest bid

During the first round of Reliance Capital’s auction, Torrent Investments made the highest bid of Rs 8,640 crore, while Hinduja Group made a bid of Rs 8,950 crore after the bid. In such a situation, Torrent Investments had turned to NCLT (National Company Law Tribunal). The NCLT had said that the time for financial bids had ended on December 21, 2022 itself and Rs 8,640 crore was the highest bid for Torrent Investments.

Torrent filed the petition on January 9

Torrent Investments filed a petition on January 9, seeking the tribunal to quash the lenders’ plan to conduct a re-auction for the acquisition of RCap. Later IIHL also filed a petition challenging the NCLT order. Reliance Capital has a debt of about Rs 40,000 crore.

read this also

LPG Price Hike: LPG cylinder prices increased after elections

Sensex 5 Companies In Top 10 Firms Lost More Than 86,000 Crore Rupees Market Capitalization Last Week

Market Cap: The market capitalization (market cap) of five of the top 10 Sensex companies declined collectively by Rs 86,447.12 ...
Read More

Shikhar Dhawan breaks silence on divorce from wife Ayesha Mukherjee, know details

Shikhar Dhawan Divorce: Indian star batsman Shikhar Dhawan is going through a bad phase of his career these days. Dhawan ...
Read More

Savitri Jindal Is Richest Woman Of India Know Her Networth

India's Richest Woman: Women are no less than men in the list of the world's rich. Women from America, Germany, ...
Read More

Layoffs 2023 Despite Mass Layoff In Tech Sector It Still Offers Highest Wages

Tech Sector Layoffs 2023: The sector which has been affected the most by the economic slowdown in the whole world ...
Read More

Google Office Facilities Google Gurugram Offices Have Nap Spa Gym Facilities Know Details Of If

Google Office Features: Google, one of the world's leading tech companies, is known for its excellent office and providing excellent ...
Read More

IPL 2023 Lucknow Supergiants Team Preview Best Playing 11 KL Rahul

Lucknow Super Giants IPL 2023 KL Rahul: Indian Premier League 2023 will start from 31 March. Lucknow Super Giants had ...
Read More

Microsoft CEO Satya Nadella Shares Secret Of Successful Career LinkedIn Head Ryan Roslansky

Satya Nadella Interview: If we look at the examples of reaching the peak from a simple beginning, then a prominent ...
Read More

CRPF Recruitment 2023 For 9212 Constable And Tradesman Posts Apply From Tomorrow 26 March

CRPF Recruitment 2023 Registration Begins Tomorrow: The Central Reserve Police Force had taken out recruitment for the bumper post of ...
Read More

Hardik Pandya is the most important player for India, says Dinesh Karthik

Dinesh Karthik on Hardik Pandya: Team India's wicket-keeper batsman Dinesh Karthik has praised his teammate Hardik Pandya. He has described ...
Read More

Trending news: Painful incident of Ishq Ka Rang White actress, said – spent nights drinking water in chawl

Trending news: Painful incident of Ishq Ka Rang White actress, said – spent nights drinking water in chawl - Hindustan ...
Read More

Leave a Comment