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NCLT Ends Its Insolvency Order Against Realty Firm
Hindustan Times Noida
|February 10, 2025
The national company law tribunal (NCLT) has terminated the ongoing corporate insolvency resolution process (CIRP) against the realty firm Logix Infrastructure Private Limited, which was facing proceedings since 2023.
NOIDA:
In its 20-page order, delivered on Thursday (February 6), the NCLT directed the resolution professional to return management control of the firm to ex-management and also ended the moratorium period given to the realty firm.
The NCLT, while allowing IA 6541 (the plea) with costs, terminated the admission order that was delivered on July 14, 2023, paving the way for initiation of the CIRP against Logix Infra.
The February 6 order also termed all decisions taken by resolution professional Pawan Kumar Goyal after his appointment as "null and void." He remained unavailable for comment despite repeated attempts by HT.
Dit verhaal komt uit de February 10, 2025-editie van Hindustan Times Noida.
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