RBI initiates insolvency proceedings against Reliance Capital at NCLT, Mumbai
RBI on Thursday filed an application for initiation of Corporate Insolvency Resolution Process (CIRP) against debt-ridden Reliance Capital at the Mumbai bench of the National Company Law Tribunal
The Reserve Bank had on November 29 superseded the board of Anil Ambani-promoted Reliance Capital Ltd (RCL) in view of payment defaults and serious governance issues