In its petition, IIFL said ACRE arbitrarily suspended and eventually terminated recovery operations, disrupting momentum and continuing to levy fees in violation of RBI guidelines. The finance firm also said ACRE misused trust funds to cover its legal expenses in arbitration proceedings-costs that were explicitly disallowed under the transaction documents.
US stocks: US market closes down sharply after Fed holds rates unchanged
Wall Street experienced a sharp decline as the Federal Reserve maintained interest rates. AI-related chip stocks also saw further losses ahead of key earnings reports.
July 29, 2026