The tribunal has put on hold an order to commence corporate insolvency resolution process against the debt-ridden company.
Shares of Housing Development and Infrastructure (HDIL) continued their upward march for the third consecutive session, gaining almost 5 percent on BSE on September 4 after the National Company Law Appellate Tribunal (NCLAT) put on hold insolvency proceedings against the company.
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NCLAT has held off a National Company Law Tribunal’s (NCLT) order to commence corporate insolvency resolution process against the debt-ridden company.
"The honourable appellate tribunal has issued notice and granted 10 days' time to file a reply to Bank of India," HDIL said in a BSE filing on September 3.
Shares of HDIL were trading 4.86 percent higher at Rs 6.26 on BSE at around 1140 IST.
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