Noida: National Company Law Tribunal (NCLT) has allowed the withdrawal of corporate insolvency resolution process (CIRP) against Le Grandiose developer, Nobility Estates Private Limited, after lenders and the company’s ex-management reached a settlement agreement. It also restored the management of the real estate company to its board of directors.Tribunal’s principal bench, comprising acting president Bachu Venkat Balram Das and member (technical) Ravindra Chaturvedi, in an order on May 5, approved the withdrawal application. “We deem it appropriate to allow the application and the CIRP of Nobility Estates Private Limited stands concluded. All pending applications in relation to the CIRP of the corporate debtor (Nobility…
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