Bank of Baroda moves HC against SP Group over RHF

Bank of Baroda, the lead lender of Reliance Home Finance, has moved Delhi High Court against S P Group after the latter refused to join the resolution process. Lenders said SP Group is stalling the resolution process of RHFL and is not cooperating with other lenders. The matter will come up for hearing on March 10th. The lenders are in talks with the S P Group to sort out the issue. The lenders of RHFL are unable to proceed with the resolution process due to a stay obtained by the S P Group from the Delhi High Court in November 2019.