Credit Suisse and Axis Bank move NCLT against RCap, Administrator

The lenders want recognition as firm's financial creditors, and inclusion in CoC as part of RCap's corporate insolvency resolution proceedings. Administrator has admitted claims worth Rs 23,666 cr

Zurich-based Credit Suisse and Axis Bank have moved the NCLT against Reliance Capital and the Reserve Bank of India- appointed Administrator after their claims were rejected in the bankruptcy process.

Credit Suisse had made a claim of approximately Rs 660 croee while Axis Bank had made a claim of Rs 100 crore against the company.

As per these applications, both  lenders sought recognition of their claims as financial creditors of Reliance Capital, and inclusion in the Committee of Creditors as a part of corporate insolvency resolution proceedings of Reliance Capital. The administrator has admitted claims worth Rs 23,666 crore.

The court will their hear the matter in May.

Both Axis Bank and Credit Suisse did not respond to emails.