Rakesh Wadhwan, director of HDIL, loses appeal against initiating insolvency proceedings

In August last year, Bank of India (BOI) approached the Mumbai bench of the NCLT claiming that HDIL had failed to repay its dues amounting to Rs 522 crore, upon which the tribunal admitted the case under section 7 of the Insolvency and Bankruptcy Code (IBC).

from Banking/Finance-Industry-Economic Times https://ift.tt/3gXYWsv