MUMBAI : The Delhi high court's order restraining coercive action against mortgage lender IndiaBulls Housing Finance Limited (IHFL) for not paying the dues to its creditors is likely to have implications for the entire mutual fund industry.
The HC has passed an interim order granting relief to the company for not making payment to its creditors on account of the lockdown.
During a hearing conducted over videoconferencing, IHFL counsel Rajiv Nayar cited the Reserve Bank of India’s (RBI) 27 March circular and said that it has become impossible for the company to recover debts owed to it by various institutions due to the regulatory measures announced by the central government, consequent to disruption on account of the covid-19 and to ensure