The case involves multiple applications (IA-4445/2023, IA-3356/2020, IA-3629/2020, IA-5001/2021, IA-4096/2022) filed in the National Company Law Tribunal (NCLT), New Delhi, concerning the Corporate Insolvency Resolution Process (CIRP) of M/s. Today Homes & Infrastructure Private Limited. These applications address issues related to the status of Greater Noida Industrial Development Authority (GNIDA) as a secured creditor, the possession of land intended for a housing project ('Canary Greens'), and objections to the resolution plan submitted by the Consortium of Canary Greens Buyers Welfare Association. The CIRP was initiated following an application by Dynacon Projects Private Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016.
M/s. Dynacon Projects Private Limited initiated CIRP against M/s. Today Homes & Infrastructure Private Limited. GNIDA claimed to be a secured creditor based on a lease deed and statutory provisions. GNIDA filed an application (IA-4445/2023) seeking directions to the Resolution Professional to recognize it as a secured creditor. The Resolution Professional argued that GNIDA's claim was filed late and that GNIDA is an operational creditor as per the Supreme Court's judgment in 'New Okhla Industrial Development Authority Vs. Anand Sonbhadra'. The land for the 'Canary Greens' project is disputed, with original landowners claiming possession and revoking a Power of Attorney granted to the Corporate Debtor. The Resolution Professional filed applications (IA-3356/2020,
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Adjudicating Authority admitted the…
Moratorium in terms of Section 14 of IBC was…
The case involves multiple applications (IA-4445/2023, IA-3356/2020, IA-3629/2020, IA-5001/2021, IA-4096/2022) filed in the National Company Law Tribunal (NCLT), New Delhi, concerning the Corporate Insolvency Resolution Process (CIRP) of M/s. Today Homes & Infrastructure Private Limited. These applications address issues related to the status of Greater Noida Industrial Development Authority (GNIDA) as a secured creditor, the possession of land intended for a housing project ('Canary Greens'), and objections to the resolution plan submitted by the Consortium of Canary Greens Buyers Welfare Association. The CIRP was initiated following an application by Dynacon Projects Private Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016.
M/s. Dynacon Projects Private Limited initiated CIRP against M/s. Today Homes & Infrastructure Private Limited. GNIDA claimed to be a secured creditor based on a lease deed and statutory provisions. GNIDA filed an application (IA-4445/2023) seeking directions to the Resolution Professional to recognize it as a secured creditor. The Resolution Professional argued that GNIDA's claim was filed late and that GNIDA is an operational creditor as per the Supreme Court's judgment in 'New Okhla Industrial Development Authority Vs. Anand Sonbhadra'. The land for the 'Canary Greens' project is disputed, with original landowners claiming possession and revoking a Power of Attorney granted to the Corporate Debtor. The Resolution Professional filed applications (IA-3356/2020,
…Adjudicating Authority admitted the…
Moratorium in terms of Section 14 of IBC was…