SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 13-JUL-2024

NBFC: DEFAULTED IN PAYMENT OF VARIOUS PAYMENT OBLIGATIONS

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S.No.	ENTITY	PERSONS	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
1	RELIANCE CAPITAL LTD.		DEFAULTED IN PAYMENT OF VARIOUS PAYMENT OBLIGATIONS DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON SERIOUS GOVERNANCE	SUPERSEDED BOARD OF DIRECTORS 29-NOV-2021	RBI VIDE ITS PRESS RELEASE DATED 02/12/2021 INFORMED THAT ON 02/12/2021,RBI HAD FILED APPLICATION FOR INITIATION OF CIRP UNDER SECTION 227 READ WITH CLAUSE (ZK) OF SUB-SECTION (2) OF SECTION 239 OF THE INSOLVENCY AND BANKRUPTCY CODE (IBC), 2016 READ WITH RULES 5 AND 6 OF INSOLVENCY AND BANKRUPTCY (INSOLVENCY AND LIQUIDATION PROCEEDINGS OF FINANCIAL SERVICE PROVIDERS AND APPLICATION TO ADJUDICATION AUTHORITY) RULES, 2019 AT THE MUMBAI BENCH OF NATIONAL COMPANY LAW TRIBUNAL
2	SREI EQUIPMENT FINANCE LTD.		DEFAULTED IN PAYMENT OF VARIOUS PAYMENT OBLIGATIONS	SUPERSEDED BOARD OF DIRECTORS 04-OCT-2021	RBI VIDE ITS PRESS RELEASE DATED 08/10/2021, 1.SUBJECT TO PROVISIONS OF SUB-SECTIONS (2) AND (3), ON THE INSOLVENCY COMMENCEMENT DATE, THE ADJUDICATION AUTHORITY SHALL BY ORDER DECLARE MORATORIUM FOR PROHIBITING ALL OF THE FOLLOWING, NAMELY A) THE INSTITUTION OF SUITS OR CONTINUATION OF PENDING SUITS OR PROCEEDINGS AGAINST THE CORPORATE DEBTOR INCLUDING EXECUTION OF ANY JUDGEMENT, DECREE OR ORDER IN ANY COURT OF LAW, TRIBUNAL, ARBITRATION PANEL OF OTHER AUTHORITY B) TRANSFERRING, ENCUMBERING, ALIENATING OR DISPOSING OFF BY THE CORPORATE DEBTOR ANY OF ITS ASSETS OR ANY LEGAL RIGHT OR BENEFICIAL INTEREST THEREIN C) ANY ACTION TO FORECLOSE, RECOVER OR ENFORCE ANY SECURITY INTEREST CREATED BY THE CORPORATE DEBTOR IN RESPECT OF ITS PROPERTY INCLUDING ANY ACTION UNDER THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 D) THE RECOVERY OF ANY PROPERTY BY AN OWNER OR LESSOR WHERE SUCH PROPERTY IS OCCUPIED BY OR IN THE POSSESSION OF THE CORPORATE DEBTOR 2) THE SUPPLY OF GOODS OR SERVICES TO THE CORPORATE DEBTOR AS MAY BE SPECIFIED SHALL NOT BE TERMINATED OR SUSPENDED OR INTERRUPTED DURING MORATORIUM PERIOD ) THE PROVISIONS OF SUB-SECTION (1) SHALL NO APPLY TO A) SUCH TRANSACTION AS MAY BE NOTIFIED BY THE CENTRAL GOVERNMENT IN CONSULTATION WITH ANY FINANCIAL REGULATOR B) SURETY IN CONTRACT OF GUARANTEE TO A CORPORATE DEBTOR RBI VIDE ITS ORDER DATED 11/10/2021 REITERATED THAT THE THREE MEMBER ADVISORY COMMITTEE WHICH WAS CONSTITUTED ON 04/10/2021 SHALL ADVISE THE ADMINISTRATOR IN THE OPERATIONS OF SREI INFRASTRUCTURE FINANCE LTD. (SIFL) AND SREI EQUIPMENT FINANCE LTD.(SEFL) DURING THE CORPORATE INSOLVENCY RESOLUTION PROCESS
3	SREI INFRASTRUCTURE FINANCE LTD.		DEFAULTED IN PAYMENT OF VARIOUS PAYMENT OBLIGATIONS	SUPERSEDED BOARD OF DIRECTORS 04-OCT-2021	RBI VIDE ITS PRESS RELEASE DATED 08/10/2021, 1.SUBJECT TO PROVISIONS OF SUB-SECTIONS (2) AND (3), ON THE INSOLVENCY COMMENCEMENT DATE, THE ADJUDICATION AUTHORITY SHALL BY ORDER DECLARE MORATORIUM FOR PROHIBITING ALL OF THE FOLLOWING, NAMELY A) THE INSTITUTION OF SUITS OR CONTINUATION OF PENDING SUITS OR PROCEEDINGS AGAINST THE CORPORATE DEBTOR INCLUDING EXECUTION OF ANY JUDGEMENT, DECREE OR ORDER IN ANY COURT OF LAW, TRIBUNAL, ARBITRATION PANEL OF OTHER AUTHORITY B) TRANSFERRING, ENCUMBERING, ALIENATING OR DISPOSING OFF BY THE CORPORATE DEBTOR ANY OF ITS ASSETS OR ANY LEGAL RIGHT OR BENEFICIAL INTEREST THEREIN C) ANY ACTION TO FORECLOSE, RECOVER OR ENFORCE ANY SECURITY INTEREST CREATED BY THE CORPORATE DEBTOR IN RESPECT OF ITS PROPERTY INCLUDING ANY ACTION UNDER THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 D) THE RECOVERY OF ANY PROPERTY BY AN OWNER OR LESSOR WHERE SUCH PROPERTY IS OCCUPIED BY OR IN THE POSSESSION OF THE CORPORATE DEBTOR 2) THE SUPPLY OF GOODS OR SERVICES TO THE CORPORATE DEBTOR AS MAY BE SPECIFIED SHALL NOT BE TERMINATED OR SUSPENDED OR INTERRUPTED DURING MORATORIUM PERIOD ) THE PROVISIONS OF SUB-SECTION (1) SHALL NO APPLY TO A) SUCH TRANSACTION AS MAY BE NOTIFIED BY THE CENTRAL GOVERNMENT IN CONSULTATION WITH ANY FINANCIAL REGULATOR B) SURETY IN CONTRACT OF GUARANTEE TO A CORPORATE DEBTOR RBI VIDE ITS ORDER DATED 11/10/2021 REITERATED THAT THE THREE MEMBER ADVISORY COMMITTEE WHICH WAS CONSTITUTED ON 04/10/2021 SHALL ADVISE THE ADMINISTRATOR IN THE OPERATIONS OF SREI INFRASTRUCTURE FINANCE LTD. (SIFL) AND SREI EQUIPMENT FINANCE LTD.(SEFL) DURING THE CORPORATE INSOLVENCY RESOLUTION PROCESS
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.