NCLT Initiates Insolvency Proceedings Against Aviom India Housing Finance
2025-02-21
Business Standard
In a significant development, the National Company Law Tribunal (NCLT) has admitted the application for commencement of corporate insolvency resolution process against Aviom India Housing Finance, marking a crucial step in the debt resolution process for the housing finance company. This move is expected to have significant implications for the company's stakeholders, including creditors and investors. The insolvency proceedings will be governed by the Insolvency and Bankruptcy Code (IBC), which aims to provide a framework for resolving corporate debt in a timely and efficient manner, promoting financial stability and economic growth. Key terms like debt restructuring and financial crisis are relevant here.
