RCap lenders likely to push resolution deadline to end of May
Lenders of debt-ridden Reliance Capital (RCap) may consider extending the deadline for completing the resolution process till May 30 this year, sources said.
(File image) The lenders of Reliance Capital (RCap) may extend the deadline for the completion of the debt-laden firm’s resolution process to May end, even as the date for the second round of e-auction remains unchanged. The current deadline to complete the resolution process, which was extended multiple times, ends on April 16.
“The second e-auction is now slated for April 11, and the deadline to complete the resolution process ends five days later. It would be difficult to wrap up the resolution process within the current deadline, and the decision is to extend it further,” a source close to the development said. Further, the prospective resolution applicants (bidders) are also seeking an extension to the second e-auction deadline. “As of now, there is no change in the deadline,” another source said.
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