Union finance minister Nirmala Sitharaman, in her budget speech last week, announced that the Centre will formulate transit-oriented development plans for 14 of India’s largest cities. The Delhi Development Authority, keeping in mind the twin problems of traffic congestion and vehicular pollution in the Capital, is working on the Karkardooma TOD project — an urban planning concept in which mass …
The National Company Law Tribunal on Tuesday approved the Mumbai-based Suraksha group's bid to acquire Jaypee Infratech, a development that comes as a relief for more than 20,000 homebuyers nearly six years after the debt-ridden company entered into the insolvency process, the PTI reported. According to the report, the ruling, which also comes nearly two years after the Committee of …
The Supreme Court observed that adjudicating authority cannot substitute any commercial term of the resolution plan approved by Committee of Creditors. If, within its limited jurisdiction, the Adjudicating Authority finds any shortcoming in the resolution plan vis-à-vis the specified parameters, it would only send the resolution plan back to the Committee of Creditors, for re-submission,. If, within its limited jurisdiction, …
The Supreme Court on Wednesday issued notice in an appeal by 7 homebuyers under Section 62 of the Insolvency & Bankruptcy Code, 2016 against an order of the NCLAT dated April 22, 2020 whereby the tribunal also directed Jaypee Infratech's Interim Resolution Professional Anuj Jain to constitute an interim monitoring committee, comprising representatives of the NBCC and its. The Supreme …
