According to a lawyer familiar with the matter, the National Corporations Court on Thursday granted Aviom India’s housing funds to bankruptcy on Thursday.
Earlier this year, the Reserve Bank of India said in a press release it plans to launch a bankruptcy lawsuit against Aviom India Housing Finance Pvt Ltd.
The RBI statement came after it replaced the AVIOM Housing Finance board due to governance concerns and defaults to meet various payment obligations. The RBI has appointed an administrator and an advisory committee to oversee the resolutions of Aviom India Housing.
Aviom Housing Finance has bank obligations of around 1,400 crore and borrowings of non-convertible corporate bonds (NCDs) worth Rs 400, and those familiar with the matter spoke to NDTV’s profits, with the company having around 1,800 He added that he has a loan book worth trillion Rs. Includes loans to fictitious accounts.
According to details available in the company’s annual report for the fiscal year ending March 2024, HDFC Bank has issued Rs 71, making it the largest lender, while Kotak Mahindra Bank and Northern Ark Capital have 50 The semester loan equivalent to the rupee has also been extended. Each one is at the company. Other major lenders include Poonawalla Fincorp and LIC Housing Finance, each with an exposure of Rs 40.
For the quarter ended June 2024, the company’s net profit was Rs 2.97, less than a quarter of the year.
