The lenders, however, are unlikely to hold a Swiss auction since this would not lead to value maximisation, people in the know said. A closed envelope bid – wherein both parties submit a proposal in a closed envelop – is an alternative option given by the administrator.source https://economictimes.indiatimes.com/industry/banking/finance/torrent-investments-wont-participate-in-second-auction-for-reliance-capital/articleshow/98979346.cms
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