The NCLAT has rejected Raheja Developers’ request to halt insolvency proceedings for its Raheja Shilas project in Gurugram, citing unresolved issues with flat buyers. The tribunal stated that withdrawal of the Corporate Insolvency Resolution Process (CIRP) requires full settlement with buyers. The CIRP will now proceed, confined solely to the Raheja Shilas project.
Insolvency process against Raheja Shilas project in Gurugram to continue: NCLAT
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