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Wednesday, November 7, 2012 - 08:22 IST
Bombay HC dismisses SUN-AREA’s appeal against CLB order in Rustomjee case; PE firm approaches SC
BY Pooja Sarkar
SUN-AREA had invested Rs 234.9 cr in Rustomjee Group’s holding company in 2009 and early this year filed a case alleging fraud, misutilisation of funds and default in payment of interest.
The Bombay High Court has dismissed an appeal by real estate dedicated private equity firm SUN-AREA Property Partners (formerly SUN-Apollo) against Mumbai-based developer Rustomjee Group, which challenged the decision of Company Law Board (CLB) asking the two parties...
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