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The Delhi High Court has stayed the Bank of Baroda and Punjab National Bank’s move to classify Reliance Commercial Finance Ltd (RCFL), and Reliance Home Finance Ltd (RHFL) as 'fraud' accounts.
In separate communications to the stock exchanges on Monday, Reliance Home Finance and Reliance Commercial Finance Ltd said they had challenged Bank of Baroda's action of classifying them as fraud accounts. The Delhi High Court on August 14 stayed the bank's move to place both accounts in the ‘fraud’ category till the next hearing.
The Delhi High Court in a separate petition also directed Punjab National Bank to maintain
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