Leading FM Radio network Radio Mirchi, a part of Entertainment Network India Limited (ENIL) and Radio Orange have actually bid Rs 251 crore to get BIG FM Radio network, sources stated. Haryana-based Sapphire FM is the other bidder in the race for BIG FM, which is going through an insolvency procedure. By The Way, Sapphire FM has actually likewise tried of Rs 251 crore for Big FM. The bidders could not instantly be grabbed remarks. Both the bidders– Radio Mirchi & Orange FM consortium and Sapphire FM– have actually used to pay the quote quantity within 30 days. Sources near the procedure likewise exposed that the lending institutions are most likely to ask both the bidders to modify their quotes up. Rs 60 crore money lying in the business’s accounts will likewise go to the lending institutions, they stated. After thinking about the money at Big FM, the overall healing for loan providers might be as high as 55 to 60 percent versus the overall confessed claims of Rs 578 crore. Dependence Broadcast Network Ltd (RBNL) owned by BIG FM is the nation’s biggest radio network with 58 stations and connects to over 1,200 towns and over 50,000 towns. In February this year, RBNL, on the plea of IDBI Trusteeship Services Ltd, was admitte
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