India, Feb. 20 -- About three weeks after the Reserve Bank of India (RBI) filed a plea to initiate corporate insolvency resolution proceedings (CIRP) against Delhi NCR-based NBFC AVIOM India Housing Finance, the National Corporate Law Tribunal (NCLT) has admitted the plea.

A bench comprising judicial member Mahendra Khandelwal and technical member Dr Sanjeev Ranjan passed the order admitting the bankruptcy proceedings today.

"The Hon'ble NCLT vide order dated 20 February 2025, has admitted the application for commencement of corporate insolvency resolution process of AVIOM India Housing Finance Private Limited and has appointed Mr. Ram Kumar as the Administrator as per Rule 5 (a) (iii) of FSP Insolvency Rules," AVIOM said on its website...