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IBC - Highlights / Catch Notes

Home Highlights August 2023 Year 2023 This

Rights of promoters - Failure to fulfill the obligation of ...

Insolvency and Bankruptcy

August 10, 2023

Rights of promoters - Failure to fulfill the obligation of construction of flats - the Promoters cannot derive any benefit out of the order of the NCLAT which is a common order in which they were one of the appellants and it is the flat buyers who are really the interested parties who have agreed to settle in the aforesaid terms - any claims or rights of the Promoters which they may seek from the NCLAT order impugned is closed. - SC

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