Bank of Baroda petitions Delhi HC to vacate stay on Reliance Home asset sale Bank of Baroda (BoB) the lead lender heading the resolution for Anil Ambani's Reliance Home Finance Ltd (RHFL) has petitioned the Delhi High Court asking it to vacate its stay on disposing off assets of Reliance Home Finance in a case involving inter corporate deposits of the Shapoorji Pallonji Group (SPG). BoB has said that the stay on disposal of assets will is creating a "stumbling block" in the ongoing recovery process from RHFL.The case refers to inter corporate deposits (ICDs) of Rs 200 crore invested by SPG subsidiary Always Remember Properties Pvt Ltd in June 2019 into RHFL which defaulted in its payment obligations.Reliance Capital the holding company of RHFL had promised to pay back the total dues of Rs 217.92 crore by raising money out of the money raised through its stake sale in its asset management company following which SPG took it to court.In an order on November 20, 2019, the Delhi High Court had stayed any attempt by RHFL to dispose or encumber any asset expect for the payment or salaries and other dues.RHFL had approached the court asking for the stay to be vacated which SPG had opposed accusing RHFL of evading payment.In its plea BoB has said that 95% of the lenders have agreed to the resolution plan for RHFL and the stay by the high court will have an unintended consequence of stalling the resolution process."The claim of the petitioner (SPG) constitutes only 1.9% of the total debt of the respondent.