HDIL shares rally 5% as Andhra Bank withdraws insolvency application against company – Moneycontrol.com

Housing Development and Infrastructure (HDIL) share price rallied 5.2 percent intraday Friday after part payment made by the company to Andhra Bank. Andhra Bank has withdrawn its insolvency application from the National Company Law Tribunal (NCLT) against HDIL as the realty firm has decided to settle outstanding dues. “The company has proceeded for settlement of…

Insolvency and Bankruptcy Code not to be amended: Government sources – Hindustan Times

The Insolvency and Bankruptcy Board of India (IBBI) has opined that sector-specific amendment cannot be done to the Insolvency and Bankruptcy Code (IBC), said government sources. They also ruled out any new provisions to protect homebuyers of real estate firms such as Jaypee Infratech and Amrapali Silicon City project. The housing ministry had recommended amendments…