CIRP ordered on a specific project basis by the NCLAT
The National Company Law Appellate Tribunal, New Delhi (“NCLAT”) recently permitted the interim resolution professional (“IRP”) of M/s Supertech Limited as the corporate debtor (“Supertech”) to constitute a committee of creditors (“CoC”) for only one real estate project. The NCLAT also held that all other real estate projects of Supertech should be continued as ongoing projects and the construction of these projects should continue with overall supervision of the IRP with the assistance of the ex-management and employees of Supertech.
For further details, please refer to the below document.
