The National Company Law Tribunal (NCLT), New Delhi Bench, has admitted the corporate insolvency resolution process (CIRP) plea filed by the Reserve Bank of India (RBI) against Aviom India Housing Finance Private Limited. The decision, delivered on February 20, 2025, marks a significant move under Section 227 of the Insolvency and Bankruptcy Code (IBC), 2016, governing the insolvency resolution of financial service providers.
RBI Moves Against Aviom
The RBI, acting as the appropriate regulator, had filed the insolvency application citing governance concerns and defaults in payment obligations by Aviom India Housing Finance. The financial service provider, classified as a non-banking financial company (NBFC) with assets…
