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Insolvency Must Be Project-Specific: NCLAT Delhi Sets Aside NCLT Order in Real Estate CIRP
Case Law Details
- Case Name
- Amit Jain Vs IDBI Trusteeship Services Limited &
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 06/11/2025
- Courts
- NCLAT
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Amit Jain Vs IDBI Trusteeship Services Limited & Anr (NCLAT Delhi)
NCLT Delhi held that insolvency of real-estate project is to be held project-specific. Accordingly, order set aside and matter revived before Adjudicating Authority to consider section 7 petition afresh.
Facts- The present appeals have been filed against the order dated 05.08.2025 passed by National Company Law Tribunal. By the impugned order, the Adjudicating Authority has admitted Section 7 petition filed by IDBI Trusteeship Services Ltd. against the Corporate Debtor (“CD”) – Mahagun (India) Pv...
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