RegulatoryEconomic Times
NCLT flags undervalued, fraudulent HDIL property sale in 2019
Negative-60
GreyOak summary
The NCLT ruled that a 2019 property sale by former HDIL directors was fraudulent and undervalued. The tribunal ordered the buyer and directors to contribute Rs 2.38 crore to HDIL's assets within 60 days. Failure to comply will void the sale and return the premises to the resolution professional.
What it affects
- HDILNegative -60
Ordered to recover Rs 2.38 croreRolling sentiment Negative -48
Source
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