Reliance Capital lenders seek Rs 8k-crore upfront cash for second auction

Minimum bid amount fixed at Rs 9,500 crore

Indian lenders have asked bidders for bankrupt Reliance Capital to offer Rs 8,000 crore in minimum upfront cash in the second auction starting on March 20.
 

At the same time, lenders have set a minimum bid amount of Rs 9,500 crore for the first round of the auction and Rs 10,000 crore for the second, with an additional Rs 250 crore for subsequent rounds.
 

Ahmedabad-based Torrent Group and the Hinduja conglomerate are in the race to buy the company.
 

The auction is being held after the National Company Law Appellate Tribunal (NCLAT) ordered a second auction to get the maximum