hyderabadupdates.com Real Estate NCLAT rejects UCO Bank claim in Bulland Buildtech insolvency case

NCLAT rejects UCO Bank claim in Bulland Buildtech insolvency case

The NCLAT ruled that home loans disbursed by UCO Bank to buyers are not a financial debt of developer Bulland Buildtech. Upholding NCLT orders, the tribunal dismissed UCO Bank’s plea to be a financial creditor in the developer’s insolvency case. Tripartite agreements did not create repayment obligations for the builder.

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