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The Delhi High Court has issued notice in a petition by India Leprosy Foundation, a public Charitable Trust, against the initiation of insolvency proceedings against Dewan Housing Finance Corporation Limited (DHFL) [India Leprosy Foundation vs RBI].
A Bench of Chief Justice DN Patel and Justice Jyoti Singh sought response from the Reserve Bank of India (RBI) in the petition by a public depositor having fixed deposits in DHFL.
It is the petitioner’s case that it was incumbent upon RBI to resolve DHFL crisis in terms of Section 45-MBA of the RBI Act and to give effect to the provisions of Section 45-QA (1) which guarantees repayment of deposits to depositors of NBFC.
Instead, the petitioner …
Read the full article at: https://www.barandbench.com/news/litigation/delhi-high-court-seeks-response-rbi-plea-against-initiation-insolvency-proceedings-dhfl
