Banks, Fis Barred From Mardia Chem Assets Sale

The much hyped Securitisation and Asset Reconstruction Ordinance 2002 is proving to be a damp squib for banks and institutions.

The Supreme Court (SC) in an interim order has ruled that secured creditors of the Ahmedabad-based Mardia Chemicals Ltd (MCL), three banks and an financial institution in this case, will not able