The case involves an appeal against an order dated 2024-11-19 passed by the National Company Law Tribunal (NCLT), Principal Bench, New Delhi, which admitted a Section 7 application under the Insolvency and Bankruptcy Code (IBC). The appellant's counsel argues that the Section 7 application relates only to the 'Raheja Shilas (Low Rise)' project in Gurugram, Haryana, and the applicants themselves had requested the Adjudicating Authority to initiate insolvency proceedings for this project. The Adjudicating Authority had appointed an Advocate Commissioner who submitted a report on 2024-07-22, detailing the project's status, including the completion of individual flat units, the need for fit-out work, and the pending Occupancy Certificate (OC) due to outstanding dues to
…The case concerns an appeal against the admission of a Section 7 application under the IBC regarding the 'Raheja Shilas (Low Rise)' project in Gurugram, Haryana. The Adjudicating Authority admitted the application. The appellant argues that the application is specific to this project. An Advocate Commissioner's report highlighted that the individual flat units are constructed but require fit-out work. The report also noted that the Occupancy Certificate (OC) is stalled due to outstanding dues to Dakshin Haryana Bijli Vitran Nigam (DHBVN). The Electricity Dues have been now solved since the No Objection Certificate (NoC) has been issued by Dakshin Haryana Bijli Vitran Nigam (DHBVN) on 2024-08-06. The intervenor claims the developer has other incomplete projects and
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The Learned Adjudicating Authority (National…
The Advocate Commissioner submitted a report…
The case involves an appeal against an order dated 2024-11-19 passed by the National Company Law Tribunal (NCLT), Principal Bench, New Delhi, which admitted a Section 7 application under the Insolvency and Bankruptcy Code (IBC). The appellant's counsel argues that the Section 7 application relates only to the 'Raheja Shilas (Low Rise)' project in Gurugram, Haryana, and the applicants themselves had requested the Adjudicating Authority to initiate insolvency proceedings for this project. The Adjudicating Authority had appointed an Advocate Commissioner who submitted a report on 2024-07-22, detailing the project's status, including the completion of individual flat units, the need for fit-out work, and the pending Occupancy Certificate (OC) due to outstanding dues to
…The case concerns an appeal against the admission of a Section 7 application under the IBC regarding the 'Raheja Shilas (Low Rise)' project in Gurugram, Haryana. The Adjudicating Authority admitted the application. The appellant argues that the application is specific to this project. An Advocate Commissioner's report highlighted that the individual flat units are constructed but require fit-out work. The report also noted that the Occupancy Certificate (OC) is stalled due to outstanding dues to Dakshin Haryana Bijli Vitran Nigam (DHBVN). The Electricity Dues have been now solved since the No Objection Certificate (NoC) has been issued by Dakshin Haryana Bijli Vitran Nigam (DHBVN) on 2024-08-06. The intervenor claims the developer has other incomplete projects and
…The Learned Adjudicating Authority (National…
The Advocate Commissioner submitted a report…