Delhi HC stays RBI order on Religare unit debt recast

The Delhi High Court (HC) has put an order by the RBI against the debt recast of NBFC Religare Finvest on hold until the next hearing. Religare Finvest, a fully-owned unit of Religare Enterprises (REL), filed a petition in the Delhi HC against the RBI order that said the debt recast cannot be executed because lenders had classified its loans as fraud exposure.