Supreme Court likely to delay verdict of all cases filed against RBI February 12 circular: report
Updated : November 14, 2018 10:10 AM IST
Power companies such as Essar Power, RKM Power, Infrastructure Leasing & Financial Services, GMR Energy, Rattan India, and KSK Mahanadi, had filed cases against the circular, after the Allahabad High Court did not grant relief to the industry.
The companies petitioned against the circular which is asking banks to treat one-day payment failure as default and initiate insolvency proceedings for the company in 180-days.
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