RBI supersedes board of Aviom India Housing Finance
Punjab National Bank’s ex-CGM Shri Ram Kumar appointed as administrator.
The Reserve Bank of India (RBI) has removed the board of directors of Aviom India Housing Finance Private Limited, citing governance concerns and payment defaults.
Shri Ram Kumar, ex-chief general manager (CGM) of Punjab National Bank, has been named as the administrator of Aviom India Housing Finance, the RBI announced on 27 January 2025.
India’s central bank said that it will “shortly initiate the process of resolution of the company” under insolvency and bankruptcy rules.
Kumar, as the administrator, is expected to be appointed as the Insolvency Resolution Professional.