NCLAT rejects HDFC plea opposing sale of IL&FS BKC property
Admin
Mar 9, 2023 11:22
63
The National Company Law Appellate Tribunal (NCLAT) has dismissed the plea of HDFC to stay the sale of IL&FS headquarters in Mumbai's Bandra Kurla Complex (BKC) to Brookfield Asset Management.
A two-member bench of the NCLAT said the sale of the property is as per the revised resolution framework approved by the appellate tribunal in March 2020 and it cannot operate as any fetter to proceed with the approval of the proposal.
