Anil Ambani: This bankrupt company of Anil Ambani got another claimant! LIC has the highest debt – anil ambani’s reliance capital gets news bidder lenders postpone auction

New Delhi: The second round of auction of Reliance Capital, the bankrupt company of heavily debt-ridden businessman Anil Ambani, has been postponed for the time being. According to sources, Torrent Investments and Hinduja Group’s company IndusInd International Holdings are already in the race to buy it. Now another company Oaktree Capital has also shown interest. Perhaps for this reason, the lenders to Reliance Capital have postponed the auction for the time being. Last week, administrator Nageswara Rao Y told bidders that the Reliance Capital auction would be held on April 4.

Nageswara Rao, in response to an email from ET, confirmed that the Reliance Capital auction would take place on April 11. Lenders expect the company to get a better offer in the next auction. Earlier, Torrent and Oaktree had indicated that they would not participate in the Reliance Capital auction. But according to sources, last week these companies have indicated to the administrator that they can participate in the auction. Lenders want maximum recovery from Reliance Capital. Its liquidation value is Rs 12,500 to 13,000 crore. But in the first round, he got very less offers than this.

Reliance Capital: This company of Anil Ambani is going to be sold, has a debt of Rs 40,000 crore

LIC’s highest loan

Lenders have decided to keep a limit of Rs 9,500 crore for the proposed auction. This includes upfront cash of Rs 8,000 crore. In the last auction held on December 21, Torrent Investments had made an offer of Rs 8,640 crore while Hinduja’s bid was Rs 8,110 crore. Within 24 hours, Hinduja raised its bid to Rs 9,000 crore. Torrent challenged this in the NCLT. The NCLT ruled in his favor but it was overturned on appeal. Last week, the Supreme Court allowed lenders to auction the challenge mechanism but said it would hear the matter in August.

The administrator has accepted claims of Rs 23,666 crore from financial creditors of Reliance Capital. LIC has the highest debt on the company. LIC has claimed Rs 3400 crore. After this is the number of JC Flowers (JC Flowers ARC). The RBI had superseded the board of Reliance Capital on November 30 last year. Reliance Capital has 20 companies. These include companies related to insurance, broking and asset construction. In September 2021, Reliance Capital told its shareholders that the company had a debt of over Rs 40,000 crore.