NCLAT Limits Insolvency Proceedings to Gurgaon Project ‘Aspirations’
The National Company Law Appellate Tribunal (NCLAT) has provided significant relief to real estate firm Vatika by restricting the insolvency proceedings to its Gurgaon-based project, ‘Aspirations’. This modification of an earlier National Company Law Tribunal (NCLT) order ensures that the Corporate Insolvency Resolution Process (CIRP) does not affect Vatika’s other projects, a decision undertaken…

