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Real Estate Developer's CIRP Tests Project-Wise Resolution; CoC Formed for Eco Village II Project Involving Creditors and Home Buyers.

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....Initiation of CIRP - All the projects of Corporate Debtor (Real Estate developer i.e Supertech Ltd.) or specified project to be proceeded against - In ‘CIRP’ Process, Project-Wise Resolution to be started as a test to find out the success of such Resolution. Keeping an eye regarding construction and completion of the projects, it is opined that an Interim Order dated 12th April, 2022 staying the constitution of CoC be modified to the extent that CoC be constituted for the Eco Village II Project only with all Financial Creditors including Financial Creditors/Banks/Home Buyers. - AT....

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