Patanjali's late bid for Rolta Spurs more to join the race
bidders are queueing up for the debt-laden Rolta India after the National Company Law Tribunal (NCLT) allowed Patanjali Ayurved to submit a late bid for the company.
Welspun Group's MGN Agro Properties and Mumbai-based B-Right Real Estate have successfully petitioned the NCLT to also submit bids. In fact, the Mumbai bench of the NCLT gave all new bidders time till February 25 to submit a formal expression of interest.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Chief Digital OfficerVisitUniversity of Western AustraliaUWA Global MBAVisitIndian School of BusinessISB Leadership in AIVisitThree other entities Ahmedabad-based Rare ARC, Tamil Nadu-based Sherisha Technologies and Pune-based Mantra Properties have also expressed interest in bidding for the company, people familiar with the information said.
A senior Rare ARC official confirmed that the company is interested in submitting a bid. Welspun did not reply to an email seeking comment. Not all applicants could be immediately reached. Resolution professional Mamta Binani did not reply to an email seeking comment.
«After the NCLT order allowing Patanjali to make a bid, there has been a surge in interest. Mostly bidders are eyeing Rolta's real estate assets in Mumbai. The company also has ₹200 crore of cash and insurance claims of ₹160 crore. Though not much is known about the value of Rolta's software assets, the fact is it was a listed IT company so there could be some value there too,»
