The location near the national capital Delhi, one of the most significant industrial hubs, Noida, has recently witnessed intensive real estate disputes. Following the massive demolition of the Twin Towers and Amrapali insolvency proceedings, the NCLT has yet to declare Ajnara Builder insolvent.
The National Company Law Tribunal(NCLT‘s) Delhi’s bench has begun insolvency proceedings against Ajnara India Ltd, a Noida-based real estate developer, in response to a petition filed by 128 homebuyers who were engaged in the builder’s project named Ajnara Ambrosia.
The NCLT ruling states that allottees(homebuyers) were requesting to begin CIRP against the developer Ajnara builders for the default made against the debt that applicants had paid in lieu of the project units they had acquired.
Comments