Mumbai: IRP seeks to be made party in PIL seeking disposal, auction of HDIL assets
The Insolvency Resolution Professional (IRP) of obligation ridden Housing Development Infrastructure Ltd (HDIL) moved the Bombay High Court on Monday to be made a party in the open intrigue prosecution (PIL) looking for the quick removal and sale of HDIL resources.
The move comes after the Supreme Court had a week ago remained the offer of HDIL resources for a situation concerning PMC Bank while consenting to hear the supplication by Reserve Bank of India.
A division seat of Justice Ranjit More and Justice S P Tavade was hearing a PIL documented by advocate Sarosh Damania, looking for the open sale of all HDIL resources either sold with the emergency hit PMC Bank or connected by the Economic Offenses Wing, Mumbai.
The insight for IRP on Monday said since HDIL resources are under a ban, the court-selected board of trustees may not proceed with selling them without the portrayal and association of the Committee of Creditors.