Reliance Capital auction: Hinduja sole player in fray, bids Rs 9,650 crore

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.