Anil Ambani's company Reliance Capital Auction, Hinduja Group Bids Of Rs 9,650 crore

Hinduja Group submits a proposal of Rs 9,650 crore for Anil Ambani's company.

Reliance Capital's bankruptcy auction was organised on Wednesday, April 26, by Asia's richest man Mukesh Ambani's brother.

IndusInd International Holdings, a division of the Hinduja Group, was the only bidder

The auction held on Wednesday as part of bankruptcy procedures, according to the persons with information.

Hinduja Group made an initial bid of Rs 9,510 crore and a second bid of Rs 9,650 crore.

Torrent Group placed the highest bid during the prior auction.

However, as ET reported, this organisation was disqualified from the company's second round of bidding.

Torrent Investments and Oaktree Capital submitted no proposals during this time.

Torrent participated in the pre-auction conversations and the mock auction drill.

The auction's entrance requirement was set at Rs. 9,500 billion, plus Rs. 8,000 billion in advance payment

In the first auction held in December, Torrent Investments made the highest offer of Rs 8,640 crore

It Is followed by Hinduja Group with Rs 8,110 crore. 

Torrent challenged Hinduja's amended bid of Rs 9,000 crore before the National Company Law Tribunal (NCLT)

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