https://www.taxtmi.com/news?id=54641 Supreme Court considered creating a committee to oversee bidding and appointment of a co-developer for completion of the stalled Supernova project, refused to approve a private settlement with Parmesh Construction Company, restrained the Interim Resolution Professional from progressing the process, and directed notices to solicit stakeholder suggestions and publication of the court order. The Court reviewed an amicus curiae report, invited stakeholder submissions on committee composition and the way forward, and emphasised that private settlements during insolvency proceedings under the Insolvency and Bankruptcy Code should not supplant a transparent selection process. en-us Thu, 04 Sep 2025 18:31:04 +0530 Thu, 04 Sep 2025 18:31:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=54641 Supreme Court considered creating a committee to oversee bidding and appointment of a co-developer for completion of the stalled Supernova project, refused to approve a private settlement with Parmesh Construction Company, restrained the Interim Resolution Professional from progressing the process, and directed notices to solicit stakeholder suggestions and publication of the court order. The Court reviewed an amicus curiae report, invited stakeholder submissions on committee composition and the way forward, and emphasised that private settlements during insolvency proceedings under the Insolvency and Bankruptcy Code should not supplant a transparent selection process. News - Thu, 04 Sep 2025 18:31:04 +0530 https://www.taxtmi.com/news?id=54641