New Delhi, The Supreme Court on Monday upheld the initiation of corporate insolvency resolution proceedings against real estate firms Bhasin Infotech and Infrastructure Private Limited and Grand Venezia Commercial Towers Private Limited, reinforcing the rights of homebuyers and commercial allottees.
A bench comprising Justices Sanjay Kumar and K Vinod Chandran dismissed the appeals filed by the erstwhile directors of the two companies, including Satinder Singh Bhasin.
The bench held that the developers failed to deliver functional units and misled the court on the project’s completion.
It did not allow the contention of the appellants that the construction…