NCLAT scraps homebuyers' plea for insolvency against Ansal Hi-tech Township – Business Standard

Ansal Hi-tech Township has registered three agreements with the petitioners — Plot Allottee Agreement, Builtup Unit Allottee Agreement, and Apartment Allottee Agreement.

The National Company Law Appellate Tribunal (NCLAT) on Monday set aside a plea seeking insolvency proceedings against Ansal Hi-tech Township Ltd filed by its homebuyers of a project in Greater Noida.

The appellate tribunal has upheld the order passed by the Delhi-based bench of the National Company Law Tribunal (NCLT), which had in January 2023 set aside the plea of homebuyers, observing that the allottees belong to different projects and does not fulfil the required criteria to file an insolvency case.

The project is located in Greater Noida, Uttar Pradesh.

The N…

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