In a significant ruling clarifying the scope of participation in insolvency proceedings, the Supreme Court has held that homebuyers’ societies and Resident Welfare Associations (RWAs) have no legal standing to intervene in insolvency cases initiated against real estate developers once a financial default is established. The verdict reinforces the limited…
Tag: #NCLT
News
Vigneshwara Winding-Up Cases Shifted to NCLT
The Delhi High Court has ordered the transfer of winding-up petitions filed against Vigneshwara Developwell Pvt Ltd to the National Company Law Tribunal (NCLT). The decision aligns with the legal framework under the Companies Act, which mandates that such matters be adjudicated by NCLT. The petitions were originally filed under…