Jayaswal Neco challenges RBI directive in Supreme Court, gets ‘status quo’ on insolvency proceedings

Jayaswal Neco, a company which is a part of Reserve Bank of India’s (RBI) second list has today obtained status quo on its insolvency proceedings at the NCLT, by the Supreme Court.

Senior Counsel Harish Salve along with Mahesh Agarwal argued for Jayaswal Neco before a bench of Justice Ranjan Gogoi and Justice R Banumathi.

Jayaswal is challenging the whole chain of RBI’s directive to banks for . . .

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