MUMBAI: The Bombay High Court has asked a arm of real estate firm Hirco Plc to unveil all its asset in an interim pass that seen that prima facie Hiranandani Palace Gardens has ducked on loan repayment to Tata Capital Financial services.

Tata Capital had filed a plea against the Hiranandani Palace Gardens, which has township projects in Chennai and Panvel near Mumbai. The finance firm had alleged a loan default of Rs 76 cr against the Hirco Plc. The lender has also demanded the dissolving the firm.

The top court in the state has passed an order to re pay the loan back to the lender.

Hiranandani Palace Gardens has acknowledged to file an undertaking in the High court that the builder will not create any third-party rights in respect of mortgaged assets and it will also not further burden other properties without the court’s approval. The matter will now be heard after Diwali holidays.

The builder defaulted on loan responsibilities from December 2012 and is now accountable to pay Rs 82.6 crore, including an annual interest of 18.5 pc.

Tata Capital in its plea stayed that Hiranandani Palace Gardens is under financial stress and is unable to meet creditor’s liabilities. It also alleged that the company has distorted facts while availing the term loan.