Noida: Calling it fraudulent misuse of insolvency law, appellate tribunal NCLAT has ruled there will be no bankruptcy proceedings against Logix Infrastructure, observing that the litigant, Experts Realty Professionals (ERP), and the Noida-based developer were actually “related parties” and moving the tribunal was nothing but “a guise” to shield Logix from financial liabilities.In doing so, NCLAT upheld National Company Law Tribunal’s (NCLT) Feb 2025 order recalling corporate insolvency proceedings against Logix Infrastructure, developer of the troubled Blossom County housing project in Sector 137.Dismissing ERP’s petition against the NCLT order, Justice N Seshasayee, member (judicial), and Arun Baroka, member (technical), of NCLAT’s…
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