Hyderabad: A prime 9,559 square yard property at Khanamet in Madhapur has been brought into the liquidation estate of Butta Infrastructure Private Limited after the National Company Law Tribunal (NCLT) ruled that LIC Housing Finance failed to establish that it had realised its security interest within the time prescribed under insolvency regulations.In a significant order that could impact recovery proceedings linked to the developer’s insolvency, the Hyderabad bench-I of the NCLT held that the lender had neither completed recovery of the asset nor produced documentary evidence to prove that such recovery efforts had culminated in realisation of the secured property.The bench, comprising judicial member Rajeev Bhardwaj and technical…
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