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The Supreme Court did not agree to a plea for staying the hearing, scheduled for this Thursday, in the Allahabad High Court (HC) on the Reserve Bank of India’s (RBI’s) bankruptcy proceedings on stressed power sector assets.
Saying the hearing had progressed to a mature level, the two-judge SC bench headed by Justice Rohinton F Nariman turned down the request, from the RBI, to halt the HC process.
The RBI in a circular dated February 12 had mandated banks to classify even one day’s delay in debt servicing as default. Resolution proceedings on stressed accounts were to be
Saying the hearing had progressed to a mature level, the two-judge SC bench headed by Justice Rohinton F Nariman turned down the request, from the RBI, to halt the HC process.
The RBI in a circular dated February 12 had mandated banks to classify even one day’s delay in debt servicing as default. Resolution proceedings on stressed accounts were to be
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