Piramal, Oaktree seek more time to make offers for Reliance Capital

Lenders target to resolve debt worth Rs 50,333 crore by FY23

Bidders of the bankrupt Reliance Capital (RCap) are seeking additional time to submit their offers as they grapple to identify the company’s assets.

Bidders, including Piramal Capital, Torrent, Oaktree Capital and IndusInd Bank have written to the administrator to extend the deadline to submit bids yet again to September 15 from August 10. The resolution plan submission date has already been extended four times in the past couple of months.

The Committee of Creditors (CoC) is meeting in the coming week to take stock of the resolution process of Reliance Capital. They would take a decision on the deadline extension.