SC directs RBI to give SIFCL a fresh hearing
SC kept in abeyance the action taken by the Reserve Bank of India against Sahara India Financial Corporation Ltd, including a ban on fresh deposits, and asked the bank to give the company a fresh hearing.
By PTI |
NEW DELHI: The Supreme Court on Monday kept in abeyance the action taken by the Reserve Bank of India against Sahara India Financial Corporation Ltd, including a ban on fresh deposits, and asked the bank to give the company a fresh hearing.
At the same time, the bench comprising Justice Arijit Pasayat and Justice P P Naolekar said that the interim order of Lucknow Bench of Allahabad High Court staying the RBI action against SIFCL will not be in operation.
SIFCL will now appear before RBI on June 12 for a personal hearing.
At the same time, the bench comprising Justice Arijit Pasayat and Justice P P Naolekar said that the interim order of Lucknow Bench of Allahabad High Court staying the RBI action against SIFCL will not be in operation.
SIFCL will now appear before RBI on June 12 for a personal hearing.
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