Browsing Tag

IBC moratorium

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Bombay High Court allows IL&FS Financial Services to proceed with ₹203.66 crore summary suit against principal borrower Serveall Constructions despite IBC moratoriums

Bombay HC Lets IL&FS Chase HDIL’s ₹204 Crore Loan from Main Borrower Despite Insolvency Shield

Bombay High Court allows IL&FS Financial Services to proceed with ₹203.66 crore summary suit against principal borrower Serveall Constructions despite IBC moratoriums
In a blow to the original developer, the Bombay High Court has dismissed Sunshine Builders' petition, mandating a ₹125 crore deposit to appeal the DRT's refusal to allow late amendments challenging a 2019 SARFAESI auction. With construction advanced and third-party rights crystallised under Lodha Developers, the court prioritised statutory pre-deposit rules and equities over the builder's claims.

Read This Before Investing in Bank Auction Property: This Man Lost The Flat Even After Paying Full Amount

In a blow to auction enthusiasts, a Mumbai company lost its Rs 9.12 crore Nerul flat after the Bombay HC ruled that an IBC moratorium invalidated the post-auction sale certificate—despite full payment. Discover why timing is everything in bank property bids.