Settlement Clears Nobility Estates from Insolvency Proceedings

The National Company Law Tribunal (NCLT) has approved the withdrawal of insolvency proceedings against the real estate developer Nobility Estates, recognized for its luxury housing project ‘Le Grandiose’ in Noida. The withdrawal follows a settlement between financial creditors and the former management. A section 12A application, filed by the resolution professional of Nobility Estates, sought…

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 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…