Delhi court sets aside interim relief order on Indiabulls Housing Finance

The move comes after the Sebi, Association of Mutual Funds (Amfi), and IDBI trustee moved a Division Bench of the court, challenging the interim order granting protection to Indiabulls.

The Delhi High Court on Wednesday set aside the interim relief given to mortgage firm Indiabulls Housing Finance on paying its dues to debenture holders, including mutual funds (MFs), until the matter was heard in detail.
 

The move comes after the Securities and Exchange Board of India (Sebi), Association of Mutual Funds (Amfi), and IDBI trustee moved a Division Bench of the court, challenging the interim order granting protection to Indiabulls.
 

Earlier this month, a single-judge Bench of the Delhi High Court had granted Indiabulls permission to not pay its debenture holders, including MFs, as long as the Reserve Bank