NCLAT issues notice to Torrent Investment in RCap case
The appellate law tribunal has directed to list the petition on 9 February 2023, saying the appeal would be heard and decided by it
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The appellate law tribunal has directed to list the petition on 9 February 2023, saying the appeal would be heard and decided by it
NCLT barred lenders of bankrupt RCap from conducting a second auction of its assets, terming it an ‘illegal mechanism’ to circumvent rules of bankruptcy code.
In an interim order passed on 3 January, the NCLT, granted relief to Torrent Investments, by directing the administrator of bankrupt Reliance Capital Ltd not to present the revised offer Hinduja group made past the auction deadline to the lenders until the next hearing date.
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