National Company Law Appellate Tribunal refused to stay resolution plan of Jaiprakash Associates Limited approved for Adani Enterprises, with bench led by Ashok Bhushan holding issues need detailed hearing, making implementation subject to final appeal outcome.
The Supreme Court slammed Noida authorities for ignoring homebuyers’ plight and focusing on recovering dues from developers. The court demanded that authorities prioritize homebuyers’ interests over financial recovery, setting a precedent for protecting homebuyers facing delays. YEIDA was directed to provide records of schemes safeguarding homebuyers, emphasizing their duty to act in homebuyers’ interest.
