By Express News Service

NEW DELHI:  Housing Development and Infrastructure Ltd (HDIL), the Mumbai-based real estate company undergoing the corporate insolvency resolution process, is likely to be liquidated after no bidders showed interest in acquiring the stressed company. The resolution professional received no resolution plan even as the threshold of 270 days got over on April 28, 2021.

According to sources, no bidders showed interest in acquiring HDIL’s assets as the latter is facing multiple litigations. Expromoters of HDIL are also involved in the PMC Bank loan scam. According to sources close to the resolution process, committee of creditors accounting for 80% of vote share are in favour of liquidation, and that the process is on hold as one of the financial creditors has moved an interlocutory application.

The Mumbai bench of the National Company Law Tribunal (NCLT) has refrained the resolution professional from…

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