https://www.taxtmi.com/caselaws?id=442346 A later statutory order transferring control of certain project towers to flat buyer associations was material to whether a Section 9 insolvency application could properly be admitted, and the admission order was set aside for fresh consideration. Because the associations had stepped into the shoes of the promoters for those towers and had a direct stake in the project, they were entitled to be impleaded and heard before any further order initiating CIRP. The proceedings were restored to the adjudicating authority, the associations were allowed to file their reply, and the resolution professional was discharged. en-us Tue, 29 Aug 2023 00:00:00 +0530 Wed, 30 Aug 2023 07:36:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442346 A later statutory order transferring control of certain project towers to flat buyer associations was material to whether a Section 9 insolvency application could properly be admitted, and the admission order was set aside for fresh consideration. Because the associations had stepped into the shoes of the promoters for those towers and had a direct stake in the project, they were entitled to be impleaded and heard before any further order initiating CIRP. The proceedings were restored to the adjudicating authority, the associations were allowed to file their reply, and the resolution professional was discharged. Case-Laws Insolvency and Bankruptcy Tue, 29 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442346