Reliance Commercial Fin resolution: HC allows bondholders to vote on Dec 8

Court asks all parties to file written submissions by December 12 and will hear the matter on December 16

The Bombay High Court on Monday refused to stay the meeting of bondholders of Reliance Commercial Finance (RCF) on December 8, which will vote on the resolution plan of the company. The resolution plan was cleared by the banks in July this year.

The HC asked all parties to file written submissions by December 12 and will hear the matter on December 16. The HC was hearing a petition filed by the lenders of Reliance Commercial Finance lenders seeking to vote on the proposal but the market regulator, Sebi filed a caveat. The market regulator said in October that all