Lenders of bankrupt Reliance Capital fear their loan recovery could fall below the liquidation value of `12,500-13,000 crore for the financial services company since both bidders, Hinduja Group and Torrent Investments, are reluctant to improve their offers, bankers dealing with the matter said.
Late last week, a Hinduja Group entity informed lenders that the 8,110 crore offer it had given during the last auction would be its final, going back on a9,000 crore improved offer it made a day after that auction ended on December 21. Meanwhile, Torrent Investments has declined to participate in a proposed extended auction on the grounds that the Supreme Court has still to deliver a final judgement on its petition.
Source:
Economic Times
