RBI Action Against Aviom India Housing Finance Pvt Ltd: The Reserve Bank of India has moved the National Company Law Tribunal (NCLT) against Delhi’s Avom India Housing Finance Private Limited. The RBI has filed an application before the New Delhi Bench of NCLT to start the corporate insolvency solution process. The Reserve Bank of India gave information about the matter on Thursday.
Ram Kumar, former Chief General Manager of Punjab National Bank, was appointed as administrator of the company
The Reserve Bank of India said that it on Monday dissolved the board of directors of Delhi’s AVOM India Housing Finance due to lapse in fulfilling administrative concerns and different payment obligations. The Reserve Bank of India has appointed former Chief General Manager of Punjab National Bank Ram Kumar as administrator of the country’s capital Delhi.
Action has been taken on the basis of recommendation of National Housing Bank
The central bank said that applications have been filed under the Insolvency and Debt Disability Code, 2016 against the AvioM India Housing Finance Private Limited for starting the Corporate Insolvency Solution Process (CIRP). Dissolving Avom’s Board of Directors, the Reserve Bank of India had said that the action has been taken on the basis of the recommendation of the National Housing Bank (NHB).
With PTI inputs
Advisory Committee of 3 members constituted to assist the administrator
The Reserve Bank of India said in a separate statement that it has formed a three -member advisory committee to assist the administrator in the discharge of his duties. The 3 -member advisory committee constituted to assist the administrator includes Paritosh Tripathi (former CGM, State Bank of India), Rajneesh Sharma (former CGM, Bank of Baroda) and Sanjay Gupta (former MD and CEO, PNB Housing Finance).
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