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RBI supersedes Aviom India Housing Finance board, to start bankruptcy process

RBI supersedes Aviom India Housing Finance board, to start bankruptcy process

FILE PHOTO: The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai, India, February 2, 2016. REUTERS/Danish Siddiqui//File Photo

The Reserve Bank of India said on Monday it has superseded the board of Aviom India Housing Finance due to governance concerns and payment defaults and plans to start bankruptcy proceedings against the company.

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