In a bizarre twist to the tale, Torrent has revised its resolution plan for Reliance Capital. Torrent had earlier accused IIHL (Hinduja Group) to revise their Resolution Plan.
Hinduja Group's attempt to raise its bid for Anil Ambani's Reliance Capital reportedly thwarted
Torrent has now revised its upfront payment from Rs 3,750 crore to Rs 8,640 crore. This is allegedly in gross violation of the RFRP and the Challenge Mechanism.
Piramal Group's consortium won't bid for resolution process of Anil Ambani's Reliance Capital
Torrent's alleged all cash bid of Rs 8,640 crore is still lower than the Rs 9,000 crore plus all cash bid of IIHL.
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