Aviom India Housing Finance: The National Company Law Tribunal (NCLT) has accepted the proposal to sell home loan company Avom India Housing Finance.

After this, the bankruptcy process of the company will start. RBI has already taken action against this company. After the RBI application, this company is now going to be sold.

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Responsibility assigned to PNB officer (Aviom India Housing Finance)

After the action of RBI, the responsibility of monitoring the functioning of Avomom India Housing Finance was given to former Chief General Manager of Punjab National Bank (PNB) Ram Kumar.

When did RBI take action? (Aviom India Housing Finance)

The central bank had investigated against this company distributing home loans on 27 January. In the investigation, many concerns to not being able to fulfill the payment obligations and work were revealed.

Subsequently, the RBI dissolved the company's board of directors and appointed former PNB officer as Administrator. Since then the company has been facing crisis.

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National Housing Bank recommended (Aviom India Housing Finance)

The National Housing Bank recommended action against Avom India Housing Finance Private Limited. After this, the RBI filed an application in the New Delhi Bench of NCLT to start bankruptcy proceedings.

The NCLT, while accepting the RBI proposal during the hearing, directed to start the insolvency process. A three -member advisory committee has been formed for this.

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Three -member advisory committee will monitor (Aviom India Housing Finance)

Following the order of NCLT, RBI said that the three -member advisory committee will work with former PNB Chief General Manager Ram Kumar in the ongoing bankruptcy process against AVOM India Housing Finance Private Limited. This committee will provide assistance to Ram Kumar as an advisor.