Sep 23, 2017 01:21 PM IST | Source: Moneycontrol.com
Bombay HC orders attachment of India Infoline assets
The Bombay High Court has ordered attachment of the movable and immovable assets of India Infoline (IIFL) for not disbursing Rs 7.56 cr to Ensemble Infra India.
Moneycontrol News
The Bombay High Court has ordered attachment of the movable and immovable assets of India Infoline (IIFL) for not disbursing Rs 7.56 cr to Ensemble Infra India, CNBC-TV18 reported.
As per the court order, attachment process will be initiated for IIFL's corporate office at Kamala City, Mumbai.
Ensemble had moved the Bombay High Court, which then ordered that the matter be referred to arbitration for recovery of credit.
Ensemble filed an arbitration application for recovery of its dues from financial service company India Infoline.
The arbitrator, on May 21, 2015 ordered Infoline to make the pledged amount to Ensemble with interest. But Infoline failed to pay Ensemble.
Ensemble had the contract with India Infoline to build the interiors of their office at Indiabulls centre in central Mumbai.
