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RU
Contractual Development Rights Form Part of Insolvency Estate Despite No Land Ownership: NCLAT
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AdvertisementUttar Pradesh Housing and Development Board Vs K.S.N.
Buildwell Pvt Ltd & Anr.
(NCLAT Delhi) The National Company Law Appellate Tribunal (NCLAT) decided three connected appeals arising from the corporate insolvency resolution process (CIRP) of K.S.N.
Buildwell Pvt.
The appeals concerned (i) an order directing de-sealing of land owned by the Uttar Pradesh Housing and Development Board (UPAVP), and (ii) an order remanding the approved resolution plan to the Committee of Creditors (CoC) for reconsideration.