In a ruling reinforcing the finality of insolvency proceedings under the Insolvency and Bankruptcy Code (IBC), the Supreme Court of India has dismissed a civil appeal filed by Ganga Construction (Consortium) challenging the resolution plan for Varutha Developers Pvt. Ltd. A Bench comprising Justices Sanjay Kumar and K. Vinod Chandran upheld the resolution plan submitted…
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The National Company Law Tribunal (NCLT), New Delhi Bench, has authorised the withdrawal of corporate insolvency resolution proceedings (CIRP) against ATS Heights Private Limited, the developer of the ATS Knightsbridge project, under Section 12A of the Insolvency and Bankruptcy Code (IBC). Through its order dated March 13, the tribunal allowed an application to withdraw the…