Allahabad HC Orders Restoration of Cancelled Lease to Aid Insolvency Revival of Realty Firm

Bulland Realtors Private Limited Vs State of U.P. And 4 Others (Allahabad High Court) Summary : The Allahabad High Court in Bulland Realtors Private Limited v. State of U.P. & 4 Others addressed a writ petition filed by Bulland Realtors Pvt. Ltd., a real estate company under the Corporate Insolvency Resolution Process (CIRP), seeking quashing of orders canceling its sub-lease and directions for recalculating dues in line with the 2014 lease deed and the Uttar Pradesh Government’s policy for stalled real estate projects. The petitioner was allotted Plot No. GH-02B-1, Sector 10, Greater No...