The NCLAT has affirmed that a request for the initiation of the Corporate Insolvency Resolution Process(CIRP) under sections 7 and 9.
The Insolvency And Bankruptcy Code (Second Amendment) Act, 2018, the NCLT has been granted powers under Regulation 30A read with section 12A
Corporate Insolvency Resolution Process initiated against Housing Development and Infrastructure Limited. Claims have been invited by the IRP from the creditors of the Company.
NCLT Principal Bench vide its order dated 20.08. 2019 has ordered insolvency proceedings U/S 7 of the Insolvency and Bankruptcy Code, 2016 against Real Estate Developer, M/S Raheja Developers Limited. Every creditor of M/s Raheja Developers need to file their claims before the Insolvency Resolution Professional(IRP).