Corporate LawsLaw Report
NCLT approves Sunblink Real Estate resolution plan, holding insolvency protection cannot confer superior property rights amid pending forfeiture proceedings.
The National Company Law Tribunal [NCLT] Mumbai bench has sanctioned a resolution plan worth ₹143 crore for Sunblink Real Estate Private Limited, submitted by Ashdan Properties Private Limited, notwithstanding the ongoing SAFEMA and PMLA cases relating to the properties intended to be redeveloped.
It is important to note that the provisions under the…