India cenbank asks Edelweiss Asset Reconstruction Co to stop asset acquisitions

Edelweiss Financial Services

29/05/2024 12:23

BENGALURU, May 29 (Reuters) - The Reserve Bank of India
on Wednesday directed Edelweiss Asset Reconstruction Company
Limited to stop the acquisition of financial assets with
immediate effect on concerns observed during the course of
supervisory examinations. 
    The central bank also asked ECL Finance Ltd to not undertake
any structured transactions with immediate effect.
     

 (Reporting by Sethuraman NR in Bengaluru; Editing by Sohini
Goswami)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))