NCLT admits RBI plea for Reliance Cap insolvency
The Free Press Journal|December 07, 2021
The National Company Law Tribunal (NCLT) on Monday admitted the Reserve Bank's plea to initiate insolvency resolution proceedings against Reliance Capital.
NCLT admits RBI plea for Reliance Cap insolvency

Last week, the Reserve Bank of India (RBI) filed an application for the initiation of Corporate Insolvency Resolution Process (CIRP) against the company. The apex bank had superseded Reliance Capital's board, citing defaults and governance issues.

Earlier on Monday, the Mumbai bench of the NCLT comprising Pradeep Narhari Deshmukh and Kapal Kumar Vohra reserved the order. Later, the bench admitted the RBI's application.

This story is from the December 07, 2021 edition of The Free Press Journal.

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This story is from the December 07, 2021 edition of The Free Press Journal.

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