Business News
Home > Business News
SC declines to stay NCLAT order to hold 2nd round of auction for RCap assets
TIWN
TIWN
PHOTO : TIWN
New Delhi, March 21 : The Supreme Court on Monday declined to stay the National Company Law Appellate Tribunal's (NCLAT) order to hold a second round of auction for RCap assets.
A bench comprising Justices Sanjiv Khanna M.M. Sundresh declined to entertain Torrent's contention seeking stay on the NCLAT order and issued notice on its plea and fixed the matter for further hearing in August. The apex court came on the plea filed by the Torrent group, a bidder of bankrupt firm Reliance Capital (RCap), challenging the NCLAT.
Senior advocate Mukul Rohatgi, representing Torrent Investments Private Limited, vehemently argued before the bench, could there be a bid every month? The bench said it will examine the matter.
Add your Comment
Comments (0)
More Business News
- With April series having expired, expect markets to turn volatile
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report