What to watch. Will woes of subsidiary impact HDIL?

Housing Development and Infrastructure has informed the exchanges that the National Company Law Tribunal has admitted an application from Union Bank of India for its wholly-owned subsidiary Guruashish Constructions Private Ltd under the Insolvency and Bankruptcy Code. It had appointed insolvency resolution professionals to carry out the functions. HDIL will file a reply and take appropriate measures. Analysts will closely monitor the development.