The Hinduja Group, through IndusInd International Holdings, was the sole bidder in the second round of auction for Reliance Capital (RCap) held on Wednesday with a bid of Rs 9,650 crore. This development will likely place the leading creditors, the Life Insurance Corporation (LIC) and the Employee Provident Fund Organisation (EPFO), in a quandary as the liquidation value is believed to be Rs 12,500 crore.
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