The deadline extension was necessitated because the lenders have determined to carry a second spherical of public sale on April 26 as a way to maximise the restoration from the sale of Reliance Capital property.
The three bidders, i.e., Torrent,
Earlier, the second spherical of public sale was scheduled for April 11, but it surely was postponed for April 26 because the lenders wanted time to type out the problems raised by the bidders.
The bidders have requested the Reliance Capital lenders to make sure that the decision plans are
Bidders additionally need certainty from the lenders that there is not going to be additional negotiations after the completion of the second spherical of public sale, and the decision course of would attain finality after the end result of the second spherical.
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