https://www.taxtmi.com/caselaws?id=784575 Whether continuation of a court-monitored CIRP/reverse CIRP was warranted after completion of the real-estate project and redressal of all homebuyer claims was the dominant issue. The NCLAT held that, since construction had been completed pursuant to an earlier order and possession was being handed over to all claimant homebuyers, no claimant survived and nothing remained to be adjudicated; therefore, continuation of CIRP served no insolvency purpose. Consequently, the CIRP of the corporate debtor was directed to be closed, the resolution professional was discharged, and the impugned order was set aside; the appeal was disposed of. en-us Tue, 15 Jul 2025 00:00:00 +0530 Thu, 08 Jan 2026 08:19:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784575 Whether continuation of a court-monitored CIRP/reverse CIRP was warranted after completion of the real-estate project and redressal of all homebuyer claims was the dominant issue. The NCLAT held that, since construction had been completed pursuant to an earlier order and possession was being handed over to all claimant homebuyers, no claimant survived and nothing remained to be adjudicated; therefore, continuation of CIRP served no insolvency purpose. Consequently, the CIRP of the corporate debtor was directed to be closed, the resolution professional was discharged, and the impugned order was set aside; the appeal was disposed of. Case-Laws IBC Tue, 15 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784575