Delhi HC directs SIDBI to not raise any demand on Indiabulls until RBI clarification on applicability of March 27 Circular on NBFCs

Delhi HC directs SIDBI to not raise any demand on Indiabulls until RBI clarification on applicability of March 27 Circular on NBFCs

The Delhi High Court has directed SIDBI to not raise any demand on Indiabulls Commercial Credit Ltd in connection with a loan extended to it, until the RBI clarifies if non-banking financial companies would be covered under the ambit of the March 27 Circular for the benefit of borrowers in view of the COVID-19 slowdown. (Indiabulls Commercial Credit Ltd vs SIDBI & Anr)

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