https://www.taxtmi.com/caselaws?id=438841 The Tribunal upheld the Adjudicating Authority's decision to confine the Corporate Insolvency Resolution Process (CIRP) to the Dreamz Sumadhur Project only, emphasizing effective resolution and preventing multiplicity of proceedings. The Tribunal found reliance on the 'Umang Realtech Pvt. Ltd.' judgment appropriate for Project Wise Insolvency principles. Extending CIRP to all projects was deemed unnecessary to avoid endless proceedings, protecting the interests of homebuyers. Adverse remarks against the Resolution Professional (RP) were expunged, recognizing compliance with the Authority's directions. The appeal was dismissed, and pending applications closed. en-us Thu, 01 Jun 2023 00:00:00 +0530 Fri, 09 Jun 2023 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438841 The Tribunal upheld the Adjudicating Authority's decision to confine the Corporate Insolvency Resolution Process (CIRP) to the Dreamz Sumadhur Project only, emphasizing effective resolution and preventing multiplicity of proceedings. The Tribunal found reliance on the 'Umang Realtech Pvt. Ltd.' judgment appropriate for Project Wise Insolvency principles. Extending CIRP to all projects was deemed unnecessary to avoid endless proceedings, protecting the interests of homebuyers. Adverse remarks against the Resolution Professional (RP) were expunged, recognizing compliance with the Authority's directions. The appeal was dismissed, and pending applications closed. Case-Laws Insolvency and Bankruptcy Thu, 01 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438841