The case involves multiple civil appeals arising from orders passed by the National Company Law Appellate Tribunal (NCLAT). The appeals concern the initiation of insolvency proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC) by homebuyers/financial creditors against corporate debtors.
Mansi Brar Fernandes filed a Section 7 IBC petition against Gayatri Infra Planner Pvt. Ltd. based on a Memorandum of Understanding (MoU) involving a buy-back clause for four flats.
The NCLAT reversed the admission of Mansi Brar Fernandes's application, deeming her a 'speculative investor'.
Sunita Agarwal filed a Section 7 IBC petition against Antriksh Infratech Pvt. Ltd. based on an MoU with assured returns.
The NCLAT set aside the admission of Sunita Agarwal's application, also deeming her a 'speculative investor'.
The IBC was amended to introduce a threshold requirement for allottees to initiate CIRP.
Another Section 7 IBC petition filed by Amit Joshi and others against Gayatri Infra Planner Pvt. Ltd. was admitted, and a CIRP is ongoing.
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NCLAT passed an order…
Supreme Court granted an ad-interim direction in…
The case involves multiple civil appeals arising from orders passed by the National Company Law Appellate Tribunal (NCLAT). The appeals concern the initiation of insolvency proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC) by homebuyers/financial creditors against corporate debtors.
Mansi Brar Fernandes filed a Section 7 IBC petition against Gayatri Infra Planner Pvt. Ltd. based on a Memorandum of Understanding (MoU) involving a buy-back clause for four flats.
The NCLAT reversed the admission of Mansi Brar Fernandes's application, deeming her a 'speculative investor'.
Sunita Agarwal filed a Section 7 IBC petition against Antriksh Infratech Pvt. Ltd. based on an MoU with assured returns.
The NCLAT set aside the admission of Sunita Agarwal's application, also deeming her a 'speculative investor'.
The IBC was amended to introduce a threshold requirement for allottees to initiate CIRP.
Another Section 7 IBC petition filed by Amit Joshi and others against Gayatri Infra Planner Pvt. Ltd. was admitted, and a CIRP is ongoing.
…NCLAT passed an order…
Supreme Court granted an ad-interim direction in…