NCLT admits Reserve Bank's plea for insolvency proceedings against Reliance Capital

NCLT admits Reserve Bank's plea for insolvency proceedings against Reliance Capital

NCLT admits Reserve Bank's plea for insolvency proceedings against Reliance CapitalDec 6, 2021, 06:39 PM IST

The company is the third NBFC to go for resolution under the IBC after Dewan Housing Finance (DHFL) and Kolkata-based Srei Group.

NCLT reserves order on RBI’s plea to commence insolvency against Reliance CapitalDec 6, 2021, 01:20 PM IST

Before that Ravi Kadam, senior advocate, appearing for the RBI informed the Mumbai bench of the National Company Law Tribunal (NCLT) that under the IBC, only the regulator has the power to initiate CIRP against financial services providers.

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