RBI's six-month-long deadline for the resolution plan ends on 17 May amidst concerns of Hinduja having "own" money for the deal. The group is seeking a deadline extension. RFRP begs default procedures to be followed
Read MoreThe whole resolution plan seems like a mockery of the collective intelligence of India's bureaucracy, and banking and insurance officials since the Hinduja Group has proposed to pledge 100 per cent RCAP shares to raise Rs 8000 crores for RCAP acquisition. Simply put, do the Hindujas don't have their own money and depend on RCAP shares as collateral to raise funds?
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