NCLT Initiates Insolvency Proceedings Against AVIOM India Housing Finance
2025-02-22
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The National Company Law Tribunal (NCLT) has admitted insolvency proceedings against AVIOM India Housing Finance, following a recommendation from the National Housing Bank (NHB). The NHB filed an application with the NCLT's New Delhi bench to initiate the corporate insolvency resolution process (CIRP) against AVIOM India, marking a significant step in the resolution process. This development is expected to have implications for the housing finance sector, with experts eyeing the outcome of the CIRP. The insolvency proceedings are aimed at resolving the financial distress faced by AVIOM India, with the NCLT overseeing the process. Key terms like debt restructuring and financial rehabilitation are likely to be considered during the CIRP.
