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.