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NCLAT limits insolvency to specific default projects, ruling Raheja's claims must be confined to Krishna Housing Scheme.
The National Company Law Appellate Tribunal (NCLAT) ruled that insolvency proceedings against real estate companies must be limited to the specific project where a default occurred, not extended to other unrelated projects.
The decision applies to Raheja Developers' Krishna Housing Scheme, requiring claims to be confined to that project alone.
The ruling emphasizes that the Corporate Insolvency Resolution Process (CIRP) should remain project-specific to protect the interests of homebuyers and stakeholders.
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NCLAT limita la insolvencia a proyectos de incumplimiento específicos, dictaminando que las reclamaciones de Raheja deben limitarse al Krishna Housing Scheme.