NCLAT allows second round of auction for Reliance Capital

The division bench of Justice Ashok Bhushan and Barun Mitra in its oral order, set aside the Mumbai bench of the National Company Law Tribunal order that favoured Torrent Investments in its plea challenging lenders’ decision to hold a second auction for the sale of Reliance Capital and a late improved offer from the Hinduja Group after the auction for the bankrupt company concluded on December 21.

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