Torrent Investments Pvt. Ltd has filed a Letter of Urgency in the Supreme Court challenging the 2 March order of National Company Law Appellate Tribunal, that allowed Reliance Capitals lenders to initiate a second auction, as a part of its corporate insolvency resolution process.
In its three-page letter, Torrent said it has sought the apex courts intervention for urgent hearing and final disposal of its pending appeals, challenging a second round of auctions for debt-laden RCaps assets.
The legal tussle with lenders started after Torrent submitted its bid of 8,640 crore for RCap, but rival bidder the Hinduja Group through IndusInd revised its bid to 9,000 crore. Subsequently, the committee of creditors (CIC) proposed an extended ch…
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