Raheja Developers faces insolvency over delays in Gurugram's Shilas project, after 40 flat buyers filed a complaint.

Raheja Developers, an Indian real estate company, faces insolvency proceedings over delays in its Shilas project in Gurugram. Over 40 flat buyers filed a complaint, leading the National Company Law Tribunal (NCLT) to initiate Corporate Insolvency Resolution Process (CIRP). Raheja argued delays were due to force majeure, but NCLT rejected this, citing routine challenges. The NCLAT will hear Raheja's appeal.

November 19, 2024
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