The case involves a Company Appeal (AT) (Insolvency) concerning the resolution of a real estate project. Allottees ('Financial Creditors') voted on a resolution plan, with 81% agreeing to receive their flats within a specified timeframe suggested by the Appellant/Promoter. 12% of the allottees opted to receive their money back. The Appellant/Promoter is tasked with completing the project and addressing the concerns of financial institutions and operational creditors.
Rajesh Goyal, the Appellant/Promoter, is involved in a Company Appeal (AT) (Insolvency) No. 1056 of 2019. The case concerns a real estate project where allottees ('Financial Creditors') voted on a resolution plan. 81% of the allottees agreed to receive their flats within a timeframe suggested by the Appellant/Promoter, while 12% opted for a refund. 7% of the allottees did not make any claim. The Appellant/Promoter is required to complete the project, address the concerns of Indiabulls Commercial Credit Ltd. and other financial institutions and operational creditors, and deposit funds with the Resolution Professional. Some allottees have taken loans from banks and are being forced to repay them with interest. The Appellant/Promoter has been given time until January 10,
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Mr. Rishab Jain, Advocate for Mr. Gaurav…
The Appellant/ Promoter is given time till 10th…
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The case involves a Company Appeal (AT) (Insolvency) concerning the resolution of a real estate project. Allottees ('Financial Creditors') voted on a resolution plan, with 81% agreeing to receive their flats within a specified timeframe suggested by the Appellant/Promoter. 12% of the allottees opted to receive their money back. The Appellant/Promoter is tasked with completing the project and addressing the concerns of financial institutions and operational creditors.
Rajesh Goyal, the Appellant/Promoter, is involved in a Company Appeal (AT) (Insolvency) No. 1056 of 2019. The case concerns a real estate project where allottees ('Financial Creditors') voted on a resolution plan. 81% of the allottees agreed to receive their flats within a timeframe suggested by the Appellant/Promoter, while 12% opted for a refund. 7% of the allottees did not make any claim. The Appellant/Promoter is required to complete the project, address the concerns of Indiabulls Commercial Credit Ltd. and other financial institutions and operational creditors, and deposit funds with the Resolution Professional. Some allottees have taken loans from banks and are being forced to repay them with interest. The Appellant/Promoter has been given time until January 10,
…Mr. Rishab Jain, Advocate for Mr. Gaurav…
The Appellant/ Promoter is given time till 10th…
Sign in to view related legal provisions.