RCap liquidation or negotiation? CoC to meet on Tuesday to take a call

While Deloitte, the process advisor to RCap's administrator, is said to be rooting for liquidation, CoC advisor KPMG hopes to close deal and award the firm to highest bidder

The committee of creditors of Reliance Capital is meeting on Tuesday to take a call on whether to send the company for liquidation or negotiate with the current bidders on the way forward.

The lenders are not happy with the low value of the offers even as the legal advisors of the CoC are split on whether to go for liquidation or continuing with the ongoing bidding process.

Banking sources said Deloitte, the process advisor to Reliance Capital's administrator, is of the opinion that the value of the bids is so low, that the firm should go for liquidation under section 6(A)