The NCLAT dismissed Spaze Towers” plea to confine insolvency proceedings to only one project, citing the existence of claims from other projects. The tribunal upheld the NCLT”s decision to initiate insolvency proceedings against Spaze Towers, citing construction delays and…
New Delhi, Dec 17 (PTI) Appellate tribunal NCLAT on Tuesday dismissed the plea filed by the former promoters of realty firm Spaze Towers to confine the Corporate Insolvency Resolution Process to only one project — Spaze Arrow.
The National Company Law Tribunal (NCLT), on October 21, 2024, directed the initiation of insolvency proceedings against Spaze Towers, admitting a plea filed by its flat owners.
Appealing against the order, the former management approached…
