LEELA WATI vs UMANG REALTECH PVT. LTD.

Counsel for the IRP  states that  NCLT, New Delhi vide orders dated 20.8.2019 in CP No.IB-1564(PB)2018 titled Rachna Singh  and Another Versus Umang Realtech Pvt. Ltd , application u/s 7 of the Insolvency and Bankruptcy Code, 2016  had admitted and CIRP is initiated and moratorium had been  declared in terms of section 14 of the Code. Further vide orders dated 4.2.2020, passed by the NCLAT, New Delhi in appeal No. 926/2019, it is clarified that “corporate insolvency against the real estate company (corporate debtor) is limited to a project as per approved plan by the competent authority and not other project which are separate at other places for which separate plans are approved.  For Example, in this case, the Winter Hil-77, Gurugram project of the corporate debtor has been placed under   corporate insolvency resolution process and hence further proceedings  does not lie before this Authority. In view  of the above, the present complaint adjourned sine die. File be consigned to the registry.

The present complaint was filed on 04.10.2023  and reply was received on 26.10.2023. Due to paucity of time, matter could not be heard. The matter to come up on 28.03.2024 for further proceedings.