The National Company Law Tribunal (NCLT) has admitted insolvency proceedings against AVIOM India Housing Finance, following the Reserve Bank of India’s intervention due to governance concerns and payment defaults.
New Delhi, Feb 21 (PTI) The National Company Law Tribunal (NCLT) has admitted the application for commencement of corporate insolvency resolution process against AVIOM India Housing Finance.
On January 27, the Reserve Bank had superseded the board of AVIOM owing to governance concerns and defaults in meeting various payment obligations, and appointed Ram Kumar, ex-CGM of Punjab National Bank, as its Administrator.
The action was taken basis recommendation of the National Housing Bank (NHB).
Later, it filed an application with the…
