Reliance Capital shares tumble 5% as RBI supersedes company’s board
The Hindu
The RBI will shortly initiate bankruptcy proceedings against Anil Ambani promoted debt-ridden NBFC
Shares of Reliance Capital Ltd. on Tuesday tumbled 5% to its lower circuit limit, a day after the Reserve Bank of India of the Anil Ambani promoted company.
The stock tanked 4.99% to its lower circuit limit of ₹18.10 on both the BSE and NSE.
The Reserve Bank on Monday superseded the board of Anil Ambani promoted Reliance Capital Ltd (RCL) and will shortly initiate bankruptcy proceedings against the debt-ridden NBFC in view of payment defaults and serious governance issues.
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