by AIP Online Bureau | Apr 7, 2023 | Indian News, Life, Non-Life, Regulation
All the three bidders– IndusInd International Holdings Ltd (IIHL) of Hinduja Group; Torrent Investment and Singapore-based Oaktree — who will be participating in the extended challenge mechanism (second round of auction), are still engaged with the...
by AIP Online Bureau | Feb 7, 2023 | Eco/Invest/Demography, Indian News, Life, Non-Life
On February 2, the Mumbai bench of National Company Law Tribunal (NCLT) had ruled against holding a fresh round of auction for the takeover of Anil Ambani-promoted Reliance Capital (RCap) and said the challenge mechanism for financial bids has already concluded....
by AIP Online Bureau | Jan 20, 2023 | Indian News, Life, Non-Life
Torrent Investments had filed a plea seeking the tribunal to quash the lenders’ plans to hold a fresh auction for the takeover of the Anil Ambani-promoted Reliance Capital. Torrent Investments was the highest bidder offering Rs 8,640 crore Mumbai: The National...
by AIP Online Bureau | Jan 13, 2023 | Indian News, Life, Non-Life
In the hearing on Thursday, January 12, senior counsel Kapil Sibal appearing for RCAP’s COC informed the court that the bid submitted by Torrent is non-compliant. Mumbai:The Committee of Creditors (COC) of Reliance Capital has approved the extension of 90 days...
by AIP Online Bureau | Jan 2, 2023 | Indian News, Life, Non-Life
In an e-auction conducted under the Challenge Mechanism, Torrent had presented a resolution plan for Reliance Capital Ltd (RCL) with a net present value of Rs 8,640 crore, while Hinduja’s offer was Rs 8,110 crore After the e-auction was over, sources said,...
