https://www.taxtmi.com/caselaws?id=444528 The NCLT, New Delhi Bench, admitted the Section 7 Application filed by homebuyers against the corporate debtor. The tribunal approved a proposal for project completion involving interim finance of Rs.75 Crores from EKA Life Limited, despite a higher interest rate, as the appellant agreed to cover the excess cost. The tribunal directed the IRP to oversee construction and financial arrangements, ensuring project phases are completed by January 2025 and January 2026. The tribunal also required a fresh proposal to address ABFL's dues and mandated regular status reports, listing the appeal for 04.12.2023. en-us Mon, 16 Oct 2023 00:00:00 +0530 Wed, 18 Oct 2023 07:41:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444528 The NCLT, New Delhi Bench, admitted the Section 7 Application filed by homebuyers against the corporate debtor. The tribunal approved a proposal for project completion involving interim finance of Rs.75 Crores from EKA Life Limited, despite a higher interest rate, as the appellant agreed to cover the excess cost. The tribunal directed the IRP to oversee construction and financial arrangements, ensuring project phases are completed by January 2025 and January 2026. The tribunal also required a fresh proposal to address ABFL's dues and mandated regular status reports, listing the appeal for 04.12.2023. Case-Laws Insolvency and Bankruptcy Mon, 16 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444528