Hinduja in the driver's seat as RBI is likely to extend the payment deadline for them, since they had bid Rs 1200 crore more than Torrent Group
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RBI's six-month-long deadline for the resolution plan ends on 17 May amidst concerns of Hinduja having "own" money for the deal. The group is seeking a deadline extension. RFRP begs default procedures to be followed
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New entities were introduced in the transaction at the eleventh hour, just days ahead of expiry of RBI deadline. RCAP to issue debentures to raise funds for its own acquisition. Deadline extension may be a huge setback for lenders
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