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CAPITAL DEFAULT
Business Today
|December 26, 2021
RBI referring Reliance Capital to insolvency tribunal could have a ripple effect
FOR THOSE TRACKING ANIL Ambani’s Reliance Group and Reliance Capital (RCL), the RBI superseding the company’s board did not come as a surprise. In the RBI’s own words, the action was necessitated “in view of the defaults by RCL in meeting the various payment obligations to its creditors and serious governance concerns which the Board has not been able to address effectively”.
This story is from the December 26, 2021 edition of Business Today.
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