Redevelopment Rights Not ‘Assets’ Under IBC if Agreement Lawfully Terminated Before Insolvency: SC [Read Order]

The Supreme Court has dismissed an appeal filed by a developer, which is undergoing corporate insolvency resolution, challenging a Bombay High Court order that permitted a housing society to appoint a new developer for a slum redevelopment project. The bench of Justices J.B. Pardiwala and R. Mahadevan held that redevelopment rights under a development agreement…

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