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

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

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

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

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

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

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Torrent Group placed the highest bid during the prior auction.

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

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

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

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

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

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

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

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