https://www.taxtmi.com/caselaws?id=356854 RBI restructuring directions required timely satisfaction of stipulated conditions, including two investment-grade credit opinions, execution of the master restructuring agreement by all lenders, and upfront promoter contribution with guarantees. The Bombay High Court noted that those requirements were not fully met because the residual debt was not accepted as investment grade, all lenders had not signed, and the promoters had not contributed within time. It also emphasised that stressed asset resolution and banking policy fall within RBI's regulatory domain, and judicial review cannot substitute the Court's view for that of an expert regulator in economic and financial matters. In the absence of full implementation of the restructuring package, no writ relief was granted to restrain insolvency proceedings. en-us Mon, 05 Mar 2018 00:00:00 +0530 Tue, 13 Mar 2018 22:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356854 RBI restructuring directions required timely satisfaction of stipulated conditions, including two investment-grade credit opinions, execution of the master restructuring agreement by all lenders, and upfront promoter contribution with guarantees. The Bombay High Court noted that those requirements were not fully met because the residual debt was not accepted as investment grade, all lenders had not signed, and the promoters had not contributed within time. It also emphasised that stressed asset resolution and banking policy fall within RBI's regulatory domain, and judicial review cannot substitute the Court's view for that of an expert regulator in economic and financial matters. In the absence of full implementation of the restructuring package, no writ relief was granted to restrain insolvency proceedings. Case-Laws Indian Laws Mon, 05 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356854