Anil Ambani, Chairman, Anil Dhirubhai Ambani Group (File photo)
Photo : BCCL
The highest bid received for the Anil Ambani-owned Reliance Capital, which is undergoing insolvent proceedings, is 60% below aggregate the liquidation value. This means that bidders need to significantly increase the offers, else the company will need to through liquidation or piecemeal sale of assetsa situation that the companys creditors want to avoid, reported Economic Times.
Lenders of Reliance Capital will hold individual meetings with eight bidders to discuss details of the resolution plans and request the latter to increase the offers made so far, the report added.
Kroll and Druff, the two companies appointed by insolvency administrators to value …
Read the full article at: https://www.timesnownews.com/business-economy/companies/anil-ambanis-reliance-capital-receives-bids-60-below-liquidation-value-article-95926611