Sahara chief meets RBI officials on SIFCL issue - Hindustan Times
close_game
close_game

Sahara chief meets RBI officials on SIFCL issue

PTI | By, Mumbai
Jun 12, 2008 09:25 PM IST

Sahara supremo started discussions with RBI on the fate of the group's para-banking firm SIFCL, action against which was kept in abeyance by the SC and the central bank was directed to give a fresh hearing.

Sahara supremo Subroto Roy on Thursday started discussions with RBI on the fate of the group's para-banking firm Sahara India Financial Corp, action against which was kept in abeyance by the Supreme Court and the central bank was directed to give a fresh hearing.

HT Image
HT Image

"The RBI has engaged the company in a dialogue that is likely to continue," a source familiar with the development said.

Hindustan Times - your fastest source for breaking news! Read now.

The Supreme Court had directed RBI on Monday to give the company a fresh hearing on June 12, after keeping in abeyance the central bank's action, including a ban on fresh deposits, against SIFCL, against which the company had obtained a stay from Allahabad High Court.

The group's Executive Director Pallav Kumar Agarwal in the meeting accompanied Roy, while its Executive Director G Gopalakrishna led the RBI team.

There will be no official communication from the central bank about this particular meeting, which lasted for nearly four hours, RBI officials said.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On