The National Company Law Tribunal on Monday ordered the initiation of insolvency proceedings against fund starved Amrapali's Sillicon City on a plea from Bank of Baroda and appointed Rajesh Samson of Deloitte as the Insolvency Resolution Professional to take control of the entity controlled by Anil Sharma.
The group's other two companies, Ultra Home Construction and Amrapali Infrastructure, both based in Greater Noida are also staring at the prospect of insolvency action on the plea from Bank of Baroda.
File a PIL requesting the court to direct the government to declare the homebuyers as secured creditors as the Insolvency & Professional code, 2016 is voilative of Article 14 (Right to Equality) and Article 21(Right to Life) of the constitution of India, seeking stay as an interim measure to protect your future rights.
We help you file the PIL against the NCLT order and seek a stay against the order.
