The Madras High Court bench of Justice N. Seshasayee held that though the Adjudicating Authority may not substitute the commercial wisdom of the Committee of Creditors ( CoC ), however, it must .
In a big relief to over 20,000 homebuyers, Suraksha Group has taken control of the debt-ridden realty firm Jaypee Infratech by constituting a three-member board and will soon infuse Rs 125 crore equity fund to start construction of stalled housing projects across Delhi-NCR.
The takeover follows
Supreme Court Quarterly Civil Digest 2024Abuse of Process of Law Special Leave Petitions - Several matters, wherein the special leave petitions are filed either against the order seeking adjournment.
With the NCLAT upholding the NCLT ruling, this has become the latest case where creditors have been forced to take substantial haircut in bankruptcy cases