NCLAT rejects HDFC plea opposing sale of IL&FS BKC property

A two-member bench of the NCLAT said the sale of the property is as per the revised resolution framework approved by the appellate tribunal in March 2020 and it cannot operate as any fetter to proceed with the approval of the proposal. Housing Development Finance Corporation Ltd had made an offer to sanction a loan of Rs 400 crore to IL&FS as a lease rental discounting transaction.

from Banking/Finance-Industry-Economic Times https://ift.tt/ANnwYgL