Reliance Capital resolution process deadline may be extended

Lenders of Reliance Capital may consider extending the deadline for completing the resolution process until May 30 as the second auction round is yet to take place and three bidders still have concerns regarding the compliance of resolution plans with regulatory guidelines, among other issues. The deadline for completing the process has been extended several times in the past. Reliance Capital is the third NBFC undergoing bankruptcy proceedings under the Insolvency and Bankruptcy Code.

from Banking/Finance-Industry-Economic Times https://ift.tt/KAdI3xX