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Reliance Housing Finance resolution likely to hit barrier due to Shapoori Pallonji Group s HC stay in 2019
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Reliance Housing Finance resolution likely to hit barrier due to Shapoori Pallonji Group s HC stay in 2019PTI
Last Updated: Mar 01, 2021, 11:00 PM IST
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Synopsis
As per the stay obtained by SP Group, RHFL is prohibited from disposing, alienating, encumbering either directly or indirectly or otherwise part with the possession of any its assets, thus directly impacting the ongoing debt resolution.
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Even as Reliance Housing Finance has got attractive bids under the corporate resolution plan that is in final stages, there could be barrier on a speedy resolution as the Shapoori Pallonji Group had in 2019 got an stay from the Delhi HC against the company to sell its assets, according to sources. Anil Ambani-controlled Reliance Home Finance Ltd (RHFL) is at the final stages of the