The company relied on RBI moratorium of three months on payment of instalments of all term loans outstanding between 1 March and 31 May New Delhi: Indiabulls Housing Finance Limited (IHFL) on Monday withdrew its plea seeking protection from any coercive action being taken against it for not being able to pay the dues to non convertible debenture (NCD) holders. “...Court may be pleased to grant them leave to withdraw the same, with liberty to institute appropriate proceedings, as may be advised, in accordance with law," the order reads.
A bench comprising Justice Siddharth Mridul and Justice Talwant Singh also set aside the 15 April interim order that had prohibited coercive action against mortgage lender Indiabulls Housing Finance Ltd