Two bank lenders finance Advisors & Managers and Vista ITCL have taken the city based developer Rashmi to NCLT for defaulting on Rs. 26.24 crore of payment.
Accepting the bankruptcy petition, the Mumbai bench of the NCLT appointed OP Agrawal as the interim resolution professional to take over the operations of the defaulter.
Established in 2000, Rashmi Housing is into residential and commercial space around Mumbai. All its completed projects are in Vasai and Mira Road, northwestern suburbs, while it has ongoing small units residential projects in these suburbs as well as in Thane, Bhayander, Naigaon and Hyderabad.
The relator also has plans to enter Mumbai with a project in Goregaon.
On December 14, the NCLT members Bhaskara Pantula Mohan and V Nallasenapathy admitting the bankruptcy petition and appointed Agrawal as the interim RP.
Source: Livemint, December 21, 2018
