Lenders extend timeline for Reliance Capital resolution by 2 months to November

As per the Insolvency and Bankruptcy Code (IBC) rules, the administrator had to close the resolution of RCL within 180 days -- by June 3. In addition, the CoC also decided to extend the last date for submission of the resolution plan by the prospective bidders from June 20 to July 11.

from Banking/Finance-Industry-Economic Times https://ift.tt/FtyHKgV