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 said the contention of the appellants that the construction was completed in all respects and possession was delivered to some of the petitioning allottees is found to be without merit and factual foundation.
“Notwithstanding the letters and documents sought to be relied upon in that regard, the ground reality is otherwise. Neither has the construction been completed nor could…