In deciding an appeal filed in Ashoka Hi-Tech Builders Pvt. Ltd. v Sanjay Kundra & Anr., the National Company Law Appellate Tribunal (“NCLAT”), Principal Bench, comprised of Justice Ashok Bhushan (Chairperson) and Mr Barun Mitra (Technical Member), held that a landowner who is a party to a development agreement is not a financial creditor as...Read More