Reliance Home Finance could land at NCLT
Monday, January 6, 2020, 8:37 PM
Debt investors of RHFL, a unit of Reliance Capital, are planning legal action that may include a request for initiating recovery proceedings in the National Company Law Tribunal against the stressed financier, which defaulted on bond repayments due earlier this month. "The NCLT application is likely, but through the Companies Act, as there are certain instances of irregularities," said an investor.
Oriental Bank of Commerce says no specific merger plan now
Friday, June 7, 2019, 3:52 PM
Oriental Bank of Commerce (OBC) said that its board hasn't approved any "specific proposal" on merging any other public sector lender with itself. The bank hasn't sought the finance ministry's approval on any such merger, OBC said in a BSE filing. Media reports, had earlier suggested that OBC had floated the idea of combining with Indian Bank and Corporation Bank.