The New Okhla Industrial Development Authority filed a civil appeal against Nilesh Sharma & Anr. The court has directed the Resolution Professional to revisit the Resolution Plan and furnish a revised proposal to the appellant by 12.08.2022. A joint meeting is to be held with senior officers of the New Okhla Industrial Development Authority (NOIDA), Resolution Professionals, and the resolution applicant to find an amicable solution within the ambit of the IBC, if possible, within two weeks. The Lessee (M/s. Logix City Developers Pvt. Ltd.) was made a party respondent. Notice was issued to respondent no.2 and the added respondent, returnable on 29.08.2022. The proceedings against the appellant are stayed in the meantime.

The New Okhla Industrial Development Authority filed a civil appeal against Nilesh Sharma & Anr. The court has directed the Resolution Professional to revisit the Resolution Plan and furnish a revised proposal to the appellant by 12.08.2022. A joint meeting is to be held with senior officers of the New Okhla Industrial Development Authority (NOIDA), Resolution Professionals, and the resolution applicant to find an amicable solution within the ambit of the IBC, if possible, within two weeks. The Lessee (M/s. Logix City Developers Pvt. Ltd.) was made a party respondent. Notice was issued to respondent no.2 and the added respondent, returnable on 29.08.2022. The proceedings against the appellant are stayed in the meantime.