Removing a major hurdle in the way of refunding ₹1.25 crore to 15 homebuyers of the now demolished Supertech twin towers in Emerald Court, Noida, the Supreme Court on Wednesday directed the Union Bank to release an amount of ₹15 lakh within 10 days to the realty firm, which is currently facing bankruptcy proceedings. The 15 homebuyers were to be …
The National Company Law Tribunal, Allahabad Bench, comprising of Shri Praveen Gupta and Shri Ashish Verma, while adjudicating an application under Section 27 read with Section 60 of Insolvency and Bankruptcy Code, 2016 in M/s Mahajagdamba Tubes Pvt. Ltd. vs M/s Quality Steels Product Limited has held that replacement of a Resolution Professional is complete as per the scheme of …
