Reliance Capital Auction: There will be no second auction of Anil Ambani’s Reliance Capital! Lenders group again postponed the time

Reliance Capital Auction Update: To recover the huge debt, the lenders of Reliance Capital have again postponed the second round of auction. The second auction of Anil Ambani’s company Reliance Capital was to be held on Tuesday. According to the PTI report, the lenders group has not yet announced a new date for the second round of auction. Although this new date will be completed in this week or two days. 

< h3 style="text-align: justify;">Supreme Court had given the decision of auction 

Torrent Investments for Anil Ambani’s company was the highest bidder in the first round of auction. The auction is being opposed by the Hinduja Group in the Supreme Court. Last week in March, the Supreme Court had given its verdict for the second auction on a petition filed by the creditors on behalf of the Torrent Group. The report states that the Supreme Court order will have to be mentioned during the second round of bidding. 

Who bid how much in the first round 

In the second auction, the base price has been kept at Rs 9,500 crore, which was higher than the previous bids. In the first round, the Hinduja Group submitted a revised bid of Rs 9,000 crore on December 21, a day after the conclusion of the first round of auction. Earlier, Torrent had made the highest bid. Torrent had made a bid of Rs 8,640 crore, while Hinduja Group had originally offered Rs 8,110 crore. Let us tell you that Reliance Capital is the third big NBFC against which RBI has initiated bankruptcy proceedings under IBC. 

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