Ishan Singh (Appellant) entered into a Collaboration Agreement with SP AZE Towers Pvt. Ltd. (Corporate Debtor) in 2010 to develop a commercial complex. Disputes arose, leading to the Appellant attempting to cancel Powers of Attorney and initiating arbitration. Allottees filed complaints with HARERA and a Section 7 IBC application against the Corporate Debtor. An arbitral award in 2022 rejected the Corporate Debtor's claims but also refused to declare the Collaboration Agreement terminated or restore land to the Appellant. NCLT admitted the Section 7 application in 2024. The Appellant then filed IA 438/2025 before NCLT, seeking to exclude unsold inventory and the subject property from the Corporate Debtor's valuation and Information Memorandum, which NCLT rejected. This
…The Appellant (Ishan Singh) entered into a Collaboration Agreement dated 19.06.2010 for the development of a commercial complex "Spaze Arrow" on land owned by the Appellant.
The Appellant issued a General Power of Attorney and Special Power of Attorney in favour of the Corporate Debtor.
Disputes arose between the Appellant and the Corporate Debtor, leading the Appellant to issue notices dated 13.12.2018 and 21.12.2018 cancelling the Powers of Attorney.
The Corporate Debtor registered the project with Haryana Real Estate Regulatory Authority (HARERA), Gurugram, obtained approval for a revised building plan, and allotted 147 units.
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Appellant (Ishan Singh) entered into a…
Appellant issued notice cancelling the General…
Ishan Singh (Appellant) entered into a Collaboration Agreement with SP AZE Towers Pvt. Ltd. (Corporate Debtor) in 2010 to develop a commercial complex. Disputes arose, leading to the Appellant attempting to cancel Powers of Attorney and initiating arbitration. Allottees filed complaints with HARERA and a Section 7 IBC application against the Corporate Debtor. An arbitral award in 2022 rejected the Corporate Debtor's claims but also refused to declare the Collaboration Agreement terminated or restore land to the Appellant. NCLT admitted the Section 7 application in 2024. The Appellant then filed IA 438/2025 before NCLT, seeking to exclude unsold inventory and the subject property from the Corporate Debtor's valuation and Information Memorandum, which NCLT rejected. This
…The Appellant (Ishan Singh) entered into a Collaboration Agreement dated 19.06.2010 for the development of a commercial complex "Spaze Arrow" on land owned by the Appellant.
The Appellant issued a General Power of Attorney and Special Power of Attorney in favour of the Corporate Debtor.
Disputes arose between the Appellant and the Corporate Debtor, leading the Appellant to issue notices dated 13.12.2018 and 21.12.2018 cancelling the Powers of Attorney.
The Corporate Debtor registered the project with Haryana Real Estate Regulatory Authority (HARERA), Gurugram, obtained approval for a revised building plan, and allotted 147 units.
…Appellant (Ishan Singh) entered into a…
Appellant issued notice cancelling the General…