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NCLT refuses to admit RHC Holding into insolvency
short by Shruti Maria Mahendar / on 06 Dec 2018,Thursday
The National Company Law Tribunal (NCLT) on Thursday dismissed HDFC's plea to initiate insolvency proceedings against RHC Holding, a Non-Banking Financial Company (NBFC) promoted by brothers Malvinder Singh and Shivinder Singh. HDFC moved the tribunal to recover ₹41 crore. RHC Holding had, however, contended that it is an NBFC and thus couldn't be brought under Insolvency and Bankruptcy Code.
short by Shruti Maria Mahendar / 11:04 pm on 06 Dec
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