The Committee of Creditors (CoC) will meet on Monday to decide on the second round of auction as it is expecting bids upwards of Rs 10,000 crore from this. The first round of auction witnessed both Hindujas and Torrent trying to outbid each other by continuously sweetening their bids and offering more upfront cash, even after the auction got over, sources said.

The tribunal said the CoC may take a call regarding finding out ways and means to complete the stalled projects of Nirmal Lifestyle (Kalyan). With the approval of the CoC, the resolution professional may take steps to obtain interim finances to complete the projects.

Torrent and Hinduja have structured their resolution plans such that the net present value (NPV) is pegged at the respective bids they made at the December 21 auction. This is done to comply with the terms of the auction, the people said.

The regulator will not grant permission to any of the six consortiums to commence business as all of them have fallen short of the RBI's expectations, said people familiar with the matter.

Gullak gives the users extra returns by allowing them to lease their gold to jewellers and get extra 5% interest per annum in the form of 24K gold from these jewellers. This is also the first ever time this practice (gold leasing) will be secured using a 100% bank guarantee from the jeweller

Govt owned ARC is offering Rs 5555 crore for Srei on NPV basis. Authum is offering Rs 5526 crore while Arena-Varde is offering Rs 4,600 crore.

Based on the submissions made by the company and its commitment to strengthen its recovery practices and outsourcing arrangements, tighten the process of onboarding third party agents and strengthen accountability framework as per its Board approved action plan, the RBI has informed the company of its decision to lift the restrictions.

RBI, in the annual report of ombudsman scheme, said that its consumer education and protection department is working towards extension of the scheme to HFCs. This may be done by March 31, 2023. Last year, the coverage of the integrated ombudsman scheme was extended to credit information companies and the non-scheduled urban cooperative banks with a deposit size of Rs 50 crore or above.