RBI supersedes Reliance Capital board, to start insolvency process
New Delhi [India], November 29 (ANI): The Reserve Bank of India (RBI) on Monday superseded the board of directors of Reliance Capital Ltd (RCL) in view of the defaults by the company in meeting various payment obligations to its creditors and "serious governance concerns which the Board has not been able to address effectively".
The RBI said in a statement that it has appointed Nageswar Rao, former Executive Director of B