NCLT admits insolvency plea against Supreme Housing & Hospitality

MUMBAI: The National Company Law Tribunal (NCLT) has admitted Canara Bank’s insolvency plea against Mumbai-based real estate company Supreme Housing and Hospitality Private Limited over alleged dues exceeding Rs 567 crore, after multiple failed one-time settlement (OTS) attempts and prolonged litigation. The Mumbai bench of the tribunal, in an order dated May 13, initiated the…

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NCLT ends insolvency proceedings against ATS Le Grandiose developer after settlement

The National Company Law Tribunal (NCLT) has closed the corporate insolvency resolution process (CIRP) against Nobility Estates Private Limited, the developer of the ATS Group’s ‘Le Grandiose’ housing project in Noida, following approval of a settlement between lenders and the company’s former management. The decision was issued by the NCLT Principal Bench, consisting of Acting…

NCLT closes insolvency proceedings against developer of ATS Le Grandiose project after settlement

New Delhi [India], May 14 : The National Company Law Tribunal (NCLT) has closed the corporate insolvency resolution process (CIRP) against Nobility Estates Private Limited, the developer of ATS Group’s “Le Grandiose” housing project in Noida, after approving a settlement reached between lenders and the company’s former management. The order was recently made by the…