Joint Insolvency Proceedings Against Grand Venezia and Bhasin Group Upheld in Real Estate Dispute: Supreme Court
The Supreme Court of India has dismissed three civil appeals filed by former directors of Grand Venezia Commercial Towers Pvt. Ltd. and Bhasin Infotech and Infrastructure Pvt. Ltd., thereby clearing the way for a joint insolvency process initiated by more than 100 commercial property allottees. The Court held that the buyers had successfully established financial debt and default under the Insolvency and Bankruptcy Code, 2016, and that insolvency proceedings against…
