SC grants relief from NCLT for stressed pvt power plants

In a big relief to private power companies, the Supreme Court has stayed the Reserve Bank of India’s circular, preventing stressed power plants from insolvency proceedings.

“The Supreme Court has asked RBI and parties to maintain status quo with regard to insolvency proceedings against power companies,” sources said adding the RBI’s plea will be heard in November.

The Supreme Court heard the plea filed by RBI seeking transfer of all cases filed against its February circular t ..

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