Akil Hirani quoted by BQ Prime on the resolution of the insolvent Reliance Capital Ltd.

by | Jul 5, 2022

The resolution of insolvent Reliance Capital Ltd. may face further delays due to a dispute with Credit Suisse AG.

Akil Hirani, Managing Partner, was quoted in BQ Prime on the topic.

“Since the Insolvency & Bankruptcy Code prescribes that all matters relating to an insolvent company are to be clubbed under the NCLT, that is most likely the next step. Reliance Capital’s creditors may look to challenge the pledge by claiming that there was a breach of contract”, he said.

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