Lenders of Anil Ambani promoted Reliance Capital (RCap) have again postponed the second auction of the assets of the debt-ridden company scheduled to be held on Tuesday, new agency PTI reported. Though the creditors have not decided about the new date yet, but it may be finalised in a week or two, the report said.
Last week, the lenders had postponed the second auction to April 11.
The report said Indusind Holdings of Hinduja Group, Torrent Investments and Singapore-based Oaktree Capital have informed lenders that they will participate in the second round of auction.
Last week, the auction was postponed to make the bidders’ plans compliant to the request for resolution plan (RFRP) as in the first round of auction, the Hinduja Group firm submitted the bid post-auction.
Torrent Investment, the highest bidder as per the auction in the first round, is contesting the post-auction bidding by the Hinduja Group in the Supreme Court. The Committee of Creditors also has to incorporate the Supreme Court order in the Challenge Mechanism, the report said.
In the second auction, the base price was set at ₹9,500 crore, higher than the previous bids.
In March last week, lenders decided to conduct a second auction in accordance with a Supreme Court ruling on a plea filed by the Torrent Group.
In the first round, the Hinduja Group submitted a revised bid of ₹9,000 crore on 21 December, a day after the first round of auction concluded—in which rival Torrent Group had been declared the highest bidder.
