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No Cookies | Daily Telegraph

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To protect homebuyers, real estate insolvency should explore project-wise resolution, not whole company: NCLAT

Vatika Limited had raised ₹146 crore through secured non-convertible debentures in 2017, backed by project-linked securities including land, receivables and escrow arrangements. Despite extensions granted for repayment of principal till June 30, 2024, the company defaulted on interest payments beginning March 2022. A demand notice dated December 29, 2023 sought ₹29.72 crore towards outstanding interest,…