The appeal challenges the NCLT order dated 14.05.2024, which dismissed I.A. No. 5659/2023 in Company Petition No. (IB)-1051/ND/2019. The appellants, homebuyers in the 'Marvella City' project, sought recall of an earlier order dated 07.09.2022 that allowed withdrawal of the CIRP against Hector Realty Venture Private Limited.
In 2015, the Appellants and several other homebuyers invested in the “Marvella City” project launched by Hector Realty Venture Pvt. Ltd.
A petition under Section 7 of the IBC was filed in CP (IB) No. 1051/ND/2019 before the NCLT, New Delhi, seeking insolvency proceedings against Hector Realty Venture Pvt. Ltd.
On 09.12.2019, the NCLT admitted the case and initiated CIRP against Hector Realty Venture Pvt. Ltd.
Initially, Mr. Mukesh Kumar Grover was named as the Interim Resolution Professional (IRP), but subsequently, on 06.01.2020, Mr. Piyush Garg was appointed.
The IRP filed I.A. No. 4281/2022 before the NCLT to withdraw the CIRP under Section 12A of the code, which was allowed on 07.09.2022.
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NCLT admitted the case and ordered the…
Mr. Piyush Garg was…
The appeal challenges the NCLT order dated 14.05.2024, which dismissed I.A. No. 5659/2023 in Company Petition No. (IB)-1051/ND/2019. The appellants, homebuyers in the 'Marvella City' project, sought recall of an earlier order dated 07.09.2022 that allowed withdrawal of the CIRP against Hector Realty Venture Private Limited.
In 2015, the Appellants and several other homebuyers invested in the “Marvella City” project launched by Hector Realty Venture Pvt. Ltd.
A petition under Section 7 of the IBC was filed in CP (IB) No. 1051/ND/2019 before the NCLT, New Delhi, seeking insolvency proceedings against Hector Realty Venture Pvt. Ltd.
On 09.12.2019, the NCLT admitted the case and initiated CIRP against Hector Realty Venture Pvt. Ltd.
Initially, Mr. Mukesh Kumar Grover was named as the Interim Resolution Professional (IRP), but subsequently, on 06.01.2020, Mr. Piyush Garg was appointed.
The IRP filed I.A. No. 4281/2022 before the NCLT to withdraw the CIRP under Section 12A of the code, which was allowed on 07.09.2022.
…NCLT admitted the case and ordered the…
Mr. Piyush Garg was…