https://www.taxtmi.com/caselaws?id=293930 The court granted the petition for corporate insolvency resolution process filed by Bank of India against Housing Development and Infrastructure Ltd. for defaulting on repayment of facilities totaling Rs. 522,29,06,768. The court admitted the petition under section 7 of the Insolvency and Bankruptcy Code, 2016, due to the corporate debtor's default on non-convertible debentures and term loan facilities, leading to the appointment of an interim resolution professional to oversee the resolution process and prohibit further legal actions against the debtor. en-us Tue, 20 Aug 2019 00:00:00 +0530 Wed, 10 Mar 2021 08:28:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293930 The court granted the petition for corporate insolvency resolution process filed by Bank of India against Housing Development and Infrastructure Ltd. for defaulting on repayment of facilities totaling Rs. 522,29,06,768. The court admitted the petition under section 7 of the Insolvency and Bankruptcy Code, 2016, due to the corporate debtor's default on non-convertible debentures and term loan facilities, leading to the appointment of an interim resolution professional to oversee the resolution process and prohibit further legal actions against the debtor. Case-Laws Insolvency and Bankruptcy Tue, 20 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293930