SP Group's litigation stalls resolution process for Reliance Home Finance

The debt resolution process of Reliance Home Finance Ltd (RHFL), which is at the final stages, has been hit by the Shapoorji Pallonji (SP) Group's litigation against the home finance company. The lenders of RHFL are unable to proceed with the resolution process due to a coercive stay obtained by the SP Group from the Delhi High Court in November 2019. As per the stay order, RHFL is prohibited from disposing, alienating, encumbering either directly or indirectly or otherwise part with the possession of any of its assets, thus directly impacting the ongoing debt resolution process.