Regulation No. 12 (2) of IBBI (CIRP) Regulations, 2016, provides a time limit of 90 days from the CIRP Commencement date to submit the claims.
As per Section 12 of the Insolvency and the Bankruptcy Code, the Corporate Insolvency Resolution Process (CIRP) must be completed within a period of 180 days.
The order relates to a case filed by the home buyer of Supertech's Up County project situated in Sector 17-A, Yamuna Expressway.
NCLAT ordered the IRP to not issue any public announcement or constitute the committee of creditors until further order. Now, NCLAT will hear the case on April 4, 2019.
A large number of complaints were filed against these projects before us in respect of non-delivery of plots, failure to refund money advanced by buyers, etc.
The court has appointed Manoj Kumar Anand as the Insolvency Resolution Professional.
Justices Arun Mishra and UU Lalit said these properties are being attached because the group had not invested in them with its own money but had diverted home buyers money
An amount of Rs 67 crore will be distributed on pro-rata basis to 352 home buyers of the Uni Homes project by Unitech in Noida.
Sunil Goel, the second largest shareholder of realty developer Omaxe, has filed a petition in the National Company Law Tribunal, accusing elder brother and company chairman and managing director Rohtas Goel of financial mismanagement.
SC also brought Anil Sharma under its scanner for declaring his assets worth Rs 67 crore as against Rs 847 crore declared in his election affidavit filed during the 2014 polls.
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