NCLT directs Resolution Professional to not proceed with resolution plan pending decision on rights of landowners

The order was passed by a two-member bench of Acting President BSV Prakash Kumar and Member Technical, Hemant Kumar Singh.

The National Company Law Tribunal (NCLT), Principal Bench has passed an order directing a Resolution Professional to not proceed a resolution plan in a corporate insolvency resolution process (CIRP) after an issue with respect to the rights of the landowners came up before it (SCSL Buildwell Pvt Ltd v. PAL Infrastructure & Developers Pvt Ltd).

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