SC orders status quo on HDIL arm land, next hearing on Feb 13

Apex court was hearing a petition by the RP of Guruashish Construction, HDIL's arm to which MHADA had leased land; firm was admitted into insolvency in July 2017 over Rs 250 cr dues to Union Bank

The Supreme Court has ordered status quo to be maintained with respect to the 40 acre land leased to Guruashish Construction by Maharashtra Housing and Area Development Authority (MHADA) and will next hear the matter on February 13.

The apex court was hearing a petition moved by the Resolution Professional (RP) of Guruashish Construction. The company was admitted into insolvency in July 2017 for failing to pay debt worth nearly Rs 250 crore to Union Bank of India.

The RP of the company had pleaded for a moratorium on the land that was leased to it by MHADA. The plea