Archive · 28 Sep 2025
NCLAT Orders Fresh Review of Appu Ghar Gurgaon Resolution
Imagine a company called Appu Ghar that's in trouble.
A plan was made to fix it, but things changed.
The NCLAT, a special court, said the plan needs a fresh look.
This is because the company that was supposed to fix Appu Ghar changed, and some people worry they don't have enough money.
The court also wants to check if the person in charge of the plan is doing a good job.
This means the fix could take longer, making some people unhappy, but ensuring fairness for all.
NCLAT directed the CoC to re-examine the resolution plan for the Appu Ghar Gurgaon project.
The ruling was in response to appeals from a financial creditor and the Appu Ghar Gurgaon Shop Buyers Association.
The Successful Resolution Applicant (SRA) underwent significant changes after initial CoC approval.
Concerns raised about the SRA's financial capacity, including low declared annual profit.
The tribunal highlighted the need for transparency and accountability in the insolvency process.
- Who
- NCLAT, Beeram Singh, Appu Ghar Gurgaon Shop Buyers Association, and creditors
- What
- NCLAT ordered a re-examination of the resolution plan for the Appu Ghar Gurgaon project.
- When
- September 26, 2025
- Where
- Gurugram, India
- Why
- Due to changes in the Successful Resolution Applicant's constitution and concerns over financial capacity and the Resolution Professional's conduct.
- Court
- NCLAT
- Project
- Appu Ghar Gurgaon
- Location
- Sector 29, Gurugram
- Date of Ruling
- September 26, 2025
- Previous CoC Approval
- May 2019
- Resolution Plan Value
- ₹700 crore (approx.)