 "Five-judge SC Bench to hear pleas challenging abrogation of Article 370")
The Torrent Group, a bidder of bankrupt firm Reliance Capital (RCap), has moved the Supreme Court against the National Company Law Appellate Tribunal’s (NCLAT’s) order to hold a second round of auction for RCap assets.
The apex court is expected to start hearing the matter from next week.
The lenders’ of RCap have decided to hold the second round of e-auction, following the NCLAT order, on March 20.
Torrent was the highest bidder with a Rs 8,640-crore offer for RCap in the first auction held in December 2022. It said that inviting bids again would be against the spirit of
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