IBC Proceedings: NCLT admits RBI's plea to start insolvency proceedings against Aviom India
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IBC Proceedings

NCLT admits RBI's plea to start insolvency proceedings against Aviom India

The Delhi bench of the National Company Law Tribunal on Thursday admitted an application by the Reserve Bank of India to start insolvency proceedings against Aviom India Housing Finance Pvt. Ltd under Section 227 of the Insolvency and Bankruptcy Code, 2016. Before this, the RBI had used Section 227 to initiate insolvency proceedings against four financial services providers, all of which were resolved successfully.

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