NCLT Initiates Insolvency Proceedings Against AVIOM India Housing Finance
2025-02-22
cnbctv18
The National Company Law Tribunal (NCLT) has admitted insolvency proceedings against AVIOM India Housing Finance, following a recommendation from the National Housing Bank (NHB). This move paves the way for the initiation of a corporate insolvency resolution process (CIRP) against the company, aiming to resolve its financial distress. The NHB's decision to file an application with the NCLT's New Delhi bench underscores the regulatory body's efforts to address the growing concerns of non-performing assets in the housing finance sector, promoting financial stability and debt recovery. Key stakeholders are eagerly awaiting the outcome of this insolvency proceeding.
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