NCLT disallows second round of auction for Reliance Capital; lenders likely to challenge order2 min read . Updated: 03 Feb 2023, 12:16 AM IST
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.
The National Company Law Tribunal (NCLT) on Thursday barred lenders of bankrupt Reliance Capital (RCap) from conducting a second auction of its assets, terming it an “illegal mechanism" to circumvent rules of India’s bankruptcy code.
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