On Monday, LIC had planned to sell its bonds worth Rs 3,400 crore, which were issued by Reliance Capital (RCAP) but did not find any takers among asset reconstruction Companies (ARCs).m The last date to submit an expression of interest (Eols) is closed.

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The media reported that the ARC did not find the option to purchase the bonds of the bankrupt firm, which attracted and decided to give it. Also, IDBI capital has mandatory to sell the bonds, extending the deadline to July 22. The Eols are to be followed by auction to sell the bonds.

Last year, RCAP was sent to bankruptcy court in November after the company defaulted on its loan to lenders, including Life Insurance Corporation of India (LIC) and other bank and provident funds.