The case involves a company petition filed by a small number of homebuyers under Section 7 of the Insolvency & Bankruptcy Code. The petition was filed before the National Company Law Tribunal (NCLT), Principal Bench, New Delhi.
A company petition was filed by a small number of homebuyers before the National Company Law Tribunal (NCLT) under Section 7 of the Insolvency & Bankruptcy Code. The NCLT considered the Supreme Court's decision in Jaypee Kensington boulevard Apartments Welfare Association v. NBCC (India) Ltd., 2021 SCC Online SC 253. The court determined that the company petition was not maintainable based on the precedent set by the Supreme Court. The application was dismissed as withdrawn, with liberty to pursue the matter if the cause survives.
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The order was…
The case involves a company petition filed by a small number of homebuyers under Section 7 of the Insolvency & Bankruptcy Code. The petition was filed before the National Company Law Tribunal (NCLT), Principal Bench, New Delhi.
A company petition was filed by a small number of homebuyers before the National Company Law Tribunal (NCLT) under Section 7 of the Insolvency & Bankruptcy Code. The NCLT considered the Supreme Court's decision in Jaypee Kensington boulevard Apartments Welfare Association v. NBCC (India) Ltd., 2021 SCC Online SC 253. The court determined that the company petition was not maintainable based on the precedent set by the Supreme Court. The application was dismissed as withdrawn, with liberty to pursue the matter if the cause survives.
The order was…