Residents of Mumbai’s World Crest Towers drag developer Lodha Group to bankruptcy court
May 24, 2021
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The World Crest society has, in its filing to the National Company Law Tribunal, said that Macrotech has failed to clear its dues of ₹7.2 crore
Residents of Mumbai-based World Crest World Towers, India’s tallest residential complex, have initiated bankruptcy proceedings against Macrotech Developers (erstwhile Lodha Group), which is among the country’s largest real-estate companies.
The World Crest society has, in its filing to the National Company Law Tribunal (NCLT), said that Macrotech has failed to clear its dues of ₹7.2 crore with regard to a sinking fund and other heads since 2019. The society, which counts several corporate honchos and top personalities as members, is demanding the dues from the developer with interest.