NEW DELHI: LIC Housing Finance has filed an application before the National Company Law Tribunal (NCLT) to start insolvency process against DB Realty for recovery of Rs 30.63 crore outstanding loan, the Mumbai-based developer said.
DB Realty said both the parties are in talks to settle this outstanding loan.
In a filing to the BSE, DB Realty informed that the company had availed of Rs 200 crore loan from LIC Housing Finance Ltd in January 2010 and out of that, Rs 188 crore were disbursed to it.
The developer repaid Rs 157.37 crore to LIC Housing Finance within 18 months from the disbursement and the balance loan outstanding is Rs 30.63 crore.
“LIC Housing Finance has filed an application by financial creditor to initiate corporate…
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