Radius was admitted to insolvency on April 30, 2021 by the National Company Law Tribunal (NCLT) in Mumbai after it failed to handover flats to the homebuyers.
A committee of creditors (CoC) was constituted which included home buyers, Adani, creditors like HDFC Ltd, ICICI Prudential and Beacon Trusteeship etc.
The CoC approved the resolution plan proposed by Adani and when it was placed before the NCLT Mumbai for approval, few creditors including ICICI and Beacon objected to the plan.
NCLT Mumbai approved the resolution plan and rejected the objections raised by the dissenting creditors.
Two of the creditors challenged the same before the NCLAT.
Radius was admitted to insolvency on April 30, 2021 by the National Company Law Tribunal (NCLT) in Mumbai after it failed to handover flats to the homebuyers.
A committee of creditors (CoC) was constituted which included home buyers, Adani, creditors like HDFC Ltd, ICICI Prudential and Beacon Trusteeship etc.
The CoC approved the resolution plan proposed by Adani and when it was placed before the NCLT Mumbai for approval, few creditors including ICICI and Beacon objected to the plan.
NCLT Mumbai approved the resolution plan and rejected the objections raised by the dissenting creditors.
Two of the creditors challenged the same before the NCLAT.
