Bombay HC rejects plea filed by SREI Group promoters against RBI

The Bombay High Court on Thursday dismissed the writ petition filed by the SREI Group promoters against the RBI's move to supersede the boards of SREI Infrastructure and SREI Equipment Finance. The promoters had also sought a stay on initiating insolvency proceedings against the firms. RBI had superseded the boards of the two firms due to governance concerns and defaults.