NCLT dismisses HDFC's insolvency plea against RHC Holding

Aditi Singh December 7 2018
RHC Holding

The National Company Law Tribunal has today dismissed HDFC Ltd’s insolvency plea against Malvinder and Shivinder Singh owned RHC Holding Pvt Ltd for recovery of outstanding dues of over Rs 41 crore.

A two member Bench of the Tribunal led by its President MM Kumar held that RHC Holding, being a “non-banking financial company” was outside the purview of the Insolvency and the Bankruptcy Code.

RHC holding had taken a loan of Rs. 200 crore from HDFC . . .

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