New Delhi, Feb. 12 -- The Supreme Court today permitted US-based Digvijay 'Danny' Gaekwad to deposit Rs.600 crore by Thursday 2 pm in an account designated by the Reserve Bank of India (RBI). The apex court had directed Gaekwad to deposit this money by the end of day on Wednesday to prove the bona fides of his Rs.5,000 crore competing offer against the open offer made by the Burman Family to acquire higher stakes in Religare Enterprises.

On 12 February, the Supreme Court allowed Gaekwad a brief extension of time, directing that the deposit be made by 2 pm IST on 13 February 2025, with the RBI providing the necessary details of the bank account and SWIFT number to facilitate the transfer. In its ruling, the court stressed that the other t...