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Published 1 month ago

NCLAT Rejects Homebuyers' Plea For Insolvency Against Ansal Hi-Tech Township

Summary by Ground News
The National Company Law Appellate Tribunal on Monday set aside a plea seeking insolvency proceedings against Ansal Hi-tech Township Ltd. The homebuyers argued that the agreement with the developer terms 'Sushant Megapolis' as one complete 'Project' and was signed much before Real Estate Regulation and Development Act came into force. NCLAT said that the RERA Act points out the requirement of a prior registration of a realty project.

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NCLAT Rejects Homebuyers' Plea For Insolvency Against Ansal Hi-Tech Township

The National Company Law Appellate Tribunal on Monday set aside a plea seeking insolvency proceedings against Ansal Hi-tech Township Ltd filed by its homebuyers of a project in Greater Noida.The appellate tribunal has upheld the order passed by the Delhi-based bench of the National Company Law Tribunal, which had in January 2023 set aside the plea of homebuyers, observing that the allottees belong to different projects and does not fulfil the re…

1 month ago
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