By Bookmyhouse | 23rd October 2019

NCLT initiates insolvency plea against Raheja Developers

The NCLT has initiated insolvency proceedings against NCR-based real estate firm Raheja Developers after admitting a plea filed by one of its flat buyers.

A two-member Principal bench, headed by President Justice M M Kumar, has appointed an interim resolution professional (IRP) to take over the management of the company.

The tribunal said "a default has occurred" by Raheja Developers in giving possession of apartments, and rejected the contention of the realty firm that the del ..

 

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