BANKING

IIHL had made the highest cash offer of Rs 9,661 crore in the auctions and secured as much as 99 per cent of the lenders' votes. The bid also includes the Rs 500-crore cash balance with RCap going to the lenders, taking the overall recovery to Rs 10,200 crore or about 65 per cent of Rs 16,000 crore principal secured debt the crippled company owed to lenders.

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