Banks expecting good response as bidders to decide RCap's fate today

Bidders have the option to either buy the entire company or bid for the company's individual assets.

Lenders to Reliance Capital (RCap) are waiting with bated breath for the outcome of the auction of the company’s assets. The last date for submitting expressions of interest (EoIs) closes on Tuesday. 

In a note to BSE on November 27, the company had said it was unable to proceed with “asset monetisation resulting in delay in debt servicing” due to various legal barriers. It said it defaulted on interest payment on its Rs 690 crore of outstanding borrowings from HDFC and Axis Bank. The amount, include accrued interest up to October 31. RCap said it failed to pay interest of Rs