ET: NCLT asks why IRP should not be initiated against Ansal Hi-Tech

23 August 2019: The National Company Law Tribunal (NCLT) Delhi on August 19 issued a show-cause notice to Ansal Hi-Tech Township asking why the corporate insolvency resolution process be not initiated against them.

The court asked the company to file their response by 21 August 2019.

The order relates to Sushant Megapolis, a project situated in Greater Noida, where the buyer had booked a plot. The project is yet to be delivered.

The buyer is being represented by advocate Piyush Singh and Aditya Parolia.

The project, launched in 2007, offered a mix of apartments, villas and residential plots.

The Economic Times reported

Categories: General News, India Bankruptcy


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