Amtek itself is one of the 12 companies identified by the Reserve Bank of India (RBI) for early bankruptcy proceedings.
Shareholders of IDFC such as Enam Holdings Pvt. Ltd and Sipadan Investments (Mauritius) Ltd have demanded a higher valuation for the company.
SEL has become the first company in the second list of corporate defaulters identified by RBI.
This is the largest investment made by the apex rural financial institution so far, and raises its total shareholding in Sidbi to 10%.
The decision to extend the agreement comes after the deal faced opposition from the shareholders of Shriram and IDFC.
IPOs & Markets
The move follows the collapse of its plan to sell a major stake to Fairfax Financial over valuation differences
The deadline for submission of fresh bids will close on 14 September
The housing finance company is considered the most valuable investment ever made by the public sector bank.
Part of the sale proceeds would be used to repay Indian lenders including Life Insurance Corporation of India (LIC).
SBI is planning to list Andhra Pradesh Grameena Vikas Bank and Saurashtra Gramin Bank
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