Hinduja group, Torrent, Piramal, Oaktree, bid for Reliance Capital

No takers for life and general insurance businesses of the bankrupt company, say sources

Ahmedabad-based Torrent, Piramal-Cosmea Financial Holdings, American financial services major Oaktree Capital Management, and Hinduja group have submitted binding bids for bankrupt Reliance Capital as the deadline for final offers expired on Monday.

No separate bid was received for Reliance Capital’s life insurance and general insurance ventures, according to banking sources. In the Piramal-Cosmea bid, the Piramal group’s liability is limited to Reliance General Insurance and Reliance Health Insurance only, while Cosmea will acquire the rest of the businesses — if it wins the race, the source said.

UV Special Situations Fund, too, made an offer for the entire firm on