Mumbai, Jan 6 (SocialNews.XYZ) In a bizarre twist to the tale, Torrent has revised its resolution plan for Reliance Capital.
Torrent had earlier accused IIHL (Hinduja Group) to revise their Resolution Plan.
Torrent has now revised its upfront payment from Rs 3,750 crore to Rs 8,640 crore.
This is allegedly in gross violation of the RFRP and the Challenge Mechanism.
Torrent's alleged all cash bid of Rs 8,640 crore is still lower than the Rs 9,000 crore plus all cash bid of IIHL.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz