The case involves an application filed by the Resolution Professional (RP) of Sunshine Housing & Infrastructure Private Limited, the Corporate Debtor, seeking prohibitory orders against the Slum Rehabilitation Authority (SRA), Respondent No. 1, regarding its order dated 17.07.2019, which terminated the Corporate Debtor's appointment as developer for a Slum Rehabilitation Scheme (SRS). The Corporate Debtor was appointed as the developer by Trimurti Cooperative Housing Society Limited (R3) to undertake redevelopment work on a property declared as a 'slum area'. The Corporate Debtor faced financial difficulties, defaulted on rent payments to slum dwellers, and loan repayments, leading to the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 7
…Sunshine Housing & Infrastructure Private Limited (Corporate Debtor) was appointed as the developer for a Slum Rehabilitation Scheme (SRS) on a property owned by Trimurti Cooperative Housing Society Limited (R3). The property, located in Mumbai, was declared a 'slum area' under the Maharashtra Slum Areas (Improvement, Clearance and Redevelopment) Act, 1971 (MSA Act). The Corporate Debtor entered into a Development Agreement with R3 on 27.10.2010, which was later revised and registered on 28.09.2013 and 30.09.2013 respectively. The Slum Rehabilitation Authority (SRA), Respondent No. 1, recognized the Corporate Debtor as the developer on 16.11.2010 and issued necessary permissions and commencement certificates for construction. However, the Corporate Debtor faced
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The property was declared as a 'slum area'…
Trimurti Cooperative Housing Society Limited…
The case involves an application filed by the Resolution Professional (RP) of Sunshine Housing & Infrastructure Private Limited, the Corporate Debtor, seeking prohibitory orders against the Slum Rehabilitation Authority (SRA), Respondent No. 1, regarding its order dated 17.07.2019, which terminated the Corporate Debtor's appointment as developer for a Slum Rehabilitation Scheme (SRS). The Corporate Debtor was appointed as the developer by Trimurti Cooperative Housing Society Limited (R3) to undertake redevelopment work on a property declared as a 'slum area'. The Corporate Debtor faced financial difficulties, defaulted on rent payments to slum dwellers, and loan repayments, leading to the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 7
…Sunshine Housing & Infrastructure Private Limited (Corporate Debtor) was appointed as the developer for a Slum Rehabilitation Scheme (SRS) on a property owned by Trimurti Cooperative Housing Society Limited (R3). The property, located in Mumbai, was declared a 'slum area' under the Maharashtra Slum Areas (Improvement, Clearance and Redevelopment) Act, 1971 (MSA Act). The Corporate Debtor entered into a Development Agreement with R3 on 27.10.2010, which was later revised and registered on 28.09.2013 and 30.09.2013 respectively. The Slum Rehabilitation Authority (SRA), Respondent No. 1, recognized the Corporate Debtor as the developer on 16.11.2010 and issued necessary permissions and commencement certificates for construction. However, the Corporate Debtor faced
…The property was declared as a 'slum area'…
Trimurti Cooperative Housing Society Limited…