Housing giant HDIL files for insolvency 

However, HDIL intends to appeal the NCLT’s order kickstarting the resolution process under the Insolvency and Bankruptcy Code. 

Published: 01st September 2019 11:08 AM  |   Last Updated: 01st September 2019 11:08 AM   |  A+A-

By Express News Service

NEW DELHI: The National Company Law Tribunal (NCLT) on Saturday directed all creditors of the bankrupt real estate major Housing Development and Infrastructure Ltd (HDIL) to submit their claims on unpaid dues by September 8. 

According to the notice issued by the company’s Corporate Insolvency Resolution Professional (CIRP), Abhay Narayan Manudhane, the deadline to file claims applies to the firm’s financial creditors too. “The financial creditors shall submit their claims with proof by electronic means only. All other creditors may submit the claims with proof in person, by post or by electronic means,” the notice said. 

The NCLT had announced the commencement of the insolvency resolution process on August 21 after pleas were filed before the tribunal by several lenders. The Bank of India had filed an application with the NCLT after the realtor failed to repay dues worth `522 crore. 

However, HDIL intends to appeal the NCLT’s order kickstarting the resolution process under the Insolvency and Bankruptcy Code. 

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