A company's attempt to exit a financial framework has been rejected. The decision brings the company closer to a stock market listing. This company had repaid a large amount of debt, over Rs 21,000 crore, before applying to surrender its registration.

The company was classified in a certain category by the financial regulator in September 2022. This category has stricter rules, including a requirement for listing on stock exchanges. The company had tried to move out of this framework before a deadline.

Further details about the decision and its implications are available from the source publication, Free Press Journal.