This is an appeal filed against an impugned order dated 2024-04-15 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench, Court – IV), by which a Section 7 application of the Homebuyers has been admitted. The appellant contends that RERA had already passed an order under Section 8 of the RERA Act, issuing directions for the construction of the project and constituting a monitoring committee. The Adjudicating Authority had noted this order but allegedly did not consider the letter and spirit of the RERA order when admitting the Section 7 application.
Vinod Kumar Jha, representing the Directors (Powers Suspended) of Ajnara Realtech Ltd., filed an appeal against an order by the Adjudicating Authority (NCLT) that admitted a Section 7 application by homebuyers. The appellant argued that RERA had already passed an order under Section 8 of the RERA Act, directing the construction of the project and establishing a monitoring committee. The Adjudicating Authority was aware of the RERA order. The appellant contends that the Adjudicating Authority did not give due consideration to the RERA order when admitting the Section 7 application. The respondent's counsel argued that the RERA order had conditions for deposit of amounts by the promoters, and there was no material to indicate that said amounts were deposited. Another
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Date of the order passed by the Adjudicating…
RERA passed an order under Section 8 of the…
This is an appeal filed against an impugned order dated 2024-04-15 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench, Court – IV), by which a Section 7 application of the Homebuyers has been admitted. The appellant contends that RERA had already passed an order under Section 8 of the RERA Act, issuing directions for the construction of the project and constituting a monitoring committee. The Adjudicating Authority had noted this order but allegedly did not consider the letter and spirit of the RERA order when admitting the Section 7 application.
Vinod Kumar Jha, representing the Directors (Powers Suspended) of Ajnara Realtech Ltd., filed an appeal against an order by the Adjudicating Authority (NCLT) that admitted a Section 7 application by homebuyers. The appellant argued that RERA had already passed an order under Section 8 of the RERA Act, directing the construction of the project and establishing a monitoring committee. The Adjudicating Authority was aware of the RERA order. The appellant contends that the Adjudicating Authority did not give due consideration to the RERA order when admitting the Section 7 application. The respondent's counsel argued that the RERA order had conditions for deposit of amounts by the promoters, and there was no material to indicate that said amounts were deposited. Another
…Date of the order passed by the Adjudicating…
RERA passed an order under Section 8 of the…