Nigel Dinneen illegally obtained more than £400,000 from five people after being declared bankrupt in July 2019 His victims included a father whose children had to sleep on the floor with no back doors or windows and a healthcare worker on the Covid frontline Dinneen was jailed for 12 months following Insolvency Service investigations A…
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Flats Image for representative purposes The Supreme Court on Thursday held that a society or Resident Welfare Association of homebuyers has no locus standi (legal standing) to intervene in insolvency proceedings initiated against a real estate developer as it is neither a creditor nor an authorised representative of allottees in the real estate project [Elegana Co-op…
The case before the Court concerned the insolvency process initiated against real estate developer Takshashila Heights India Private Limited. Takshashila Heights had availed loans of ₹70 crore in 2018 from ECL Finance Limited for the development of a residential-cum-commercial project titled “Takshashila Elegna” in Ahmedabad. The loan was later assigned to Edelweiss Asset Reconstruction Company…
A society or resident welfare association (RWA) has no legal right to intervene at the stage where a financial creditor seeks to trigger insolvency proceedings against a real estate developer for defaulting on its loan obligations, the Supreme Court ruled on Thursday. New Delhi, Jan 10 (ANI): A view of the Supreme Court building, the…
A society or resident welfare association (RWA) has no legal right to intervene at the stage where a financial creditor seeks to trigger insolvency proceedings against a real estate developer for defaulting on its loan obligations, the Supreme Court ruled on Thursday. New Delhi, Jan 10 (ANI): A view of the Supreme Court building, the…
Noida: Lurching from one crisis to another, Wish Town, and with it the fate of 17,000 homebuyers, are caught in turbulence yet again.Acting on a complaint from Enforcement Directorate (ED), Delhi Police’s economic offences wing has filed an FIR against Suraksha Realty and Lakshdeep Investments and Finance – Suraksha’s partner in the insolvency resolution of…
Key Facts: Non-bank lenders are increasing court enforcement actions to record levels while major banks reduce their activity, particularly through 2023-2025 Overall insolvency rates continue to rise, with numbers in December 2025 exceeding 2024 levels and showing consistent upward trend since COVID The ATO remains the primary source of court actions, with continued high levels…