RHC Holding

The National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings against RHC Holding, an entity promoted by former promoters of erstwhile Ranbaxy and Fortis Healthcare

The loan amount is due since October 31, 2019, along with further interest and cost due to the secured creditor from the borrower and mortgager

The appellate tribunal said it found "no merits" in HDFC's petition and said that non-bank financial lenders come under the purview of the Reserve Bank of India

HDFC had approached NCLT seeking repayment of Rs 410 million dues from RHC Holding