NCLT Approves Suman Villas Pvt Ltd Resolution Plan

Sushil Kumar and others Vs Suman Villas Private Limited (NCLT Chandigarh) The case of Sushil Kumar and Others vs. Suman Villas Private Limited was brought before the National Company Law Tribunal (NCLT), Chandigarh, for the approval of a resolution plan under Sections 30(6) and 31 of the Insolvency and Bankruptcy Code, 2016 (IBC). The resolution professional, Mr. Sanjay Garg, acting on behalf of Suman Villas Private Limited (the “Corporate Debtor”), sought approval for the resolution plan submitted by Max Heights Infrastructure Limited. Background Suman Villas Private Limited, a re...