NOIDA's Claim of Unawareness in Corporate Insolvency Resolution Process Rejected After Approving Plans, Accepting Payments for 7 Years.

CIRP - Resolution Process - contention of appellant is that prior approval from the lessor has not been taken before sub-leasing portion of the land to the ‘Corporate Debtor’ for development of the Housing Project - It is beyond comprehension as to how the Appellant/NOIDA could have overlooked this factual scenario for 7 long years, having approved the Building Plans, having accepted the premium amounts and the lease rentals and now at this stage of CIRP, stating that they were completely unaware of any such Housing Project coming up, is completely untenable. - AT .....

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